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.

Private steel player Jindal Steel and Power Ltd (JSPL) has said its consolidated crude steel production remained flat at 6.5 lakh tonne (LT) during April 2020.

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.

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.