Hoa Phat Group, the largest steel maker in Vietnam, exported over 20,000 tonnes of construction steel in April, up 17 percent year-on-year.

Iron and steel export volume hit 858 tonnes, up 17-fold, while value surged 18 times annually to 1.27 million USD.

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

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

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

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

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

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