Indian domestic steel demand is likely to see a sharp dive in the first quarter of the coming fiscal due to stalled factories and production cutbacks across major user industries like auto and construction.

Business Standard reported that the outbreak of the deadly Covid-19 pandemic has queered the pitch for seamless continuity in operations of 21 iron ore, manganese and chromite mines in Odisha.

Ferrosilicon futures 2005 contract close at 5416 on Wednesday April 1.

The unit's BF No 2 has been idle since July 2019, due to market conditions. The Tubarão complex's total capacity amounts to about 7.5 million tonne per year.

Financial Express reported that Steel Authority of India has proposed to expand its capacity to 49.6 million tonnes per annum in its Vision 2030 programme.

Through January to March, the ferrosilicon production was around 1.27 million tons.

JSW Steel has decided to scale down/ suspend production at its units in the wake of the global outbreak of novel Coronavirus (COVID-19).

Chongqing Iron & Steel (Group) saw a decrease of 48.22% on profit.