Nationwide lockdowns and restrictions on activity to contain the Covid-19 pandemic could reduce the supply of iron ore in the seaborne market by around 18 million tonnes this year, according to mining company Vale.

Brazilian miner Vale is seeking alternatives to waste disposal at its Brucutu iron ore mine to produce at 80% capacity this year.

Prices in the CIS export billet market continued to slide on Wednesday April 1, in line with lower bids received amid the reduced trading activity.

Domestic prices for steel rebar were unchanged in Northern Europe but slightly up in Southern Europe because of an increase in trading in Italy.

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.

United States Steel Corporation announced a series of aggressive and meaningful actions to provide greater certainty on the company’s response to impacts from the coronavirus COVID-19 and the sudden, significant changes in global oil and gas markets.

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.