This growth was led by a ramp up of Tata Steel BSL and acquisition of Usha Martin steel business by Tata Steel Long Products in April 2019.

Import prices for flat-rolled steel into South America were steady to slightly higher during the past week.

"Moreover, we intend to export 5,000-8,000 tonnes of ferro-silicon this year to North America."

Automotive production in Brazil plunged in April due to massive shutdowns stemming from the Covid-19 pandemic.

The average capacity utilisation was clocked at 38% for April 2020, the company said in a statement.

Concerns about Brazilian iron ore supply resurfaced among market participants this past week.

The European automotive sector has proposed a plan to help restart the crippled industry after Covid-19 lockdown restrictions are eased.

Tehran has imposed new limits on exports of Iranian steel, requiring exporters to secure export permission from the ministry of industry, mine and trade.