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

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

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

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.

Japan's manufacturing sector is beginning a slow return to normal after Tokyo today eased Covid-19 restrictions in parts of the country.

China's logistics prosperity index hit 53.6 percent in April, up 2.1 percentage points from the previous month.