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.

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.

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.

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.

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.

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

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.

Metals majors are staring at production cutbacks following the 21-day lockdown in the wake of the Covid-19 outbreak that has sharply shrunk demand.