It is the second international standard the company initiated, Guizhou Steel Rope Group said.

The throughput of major ports in China continued to increase last week as economic activities keep picking up pace, the China Ports and Harbours Association (CPHA) said on Wednesday.

"It takes just 30 minutes from clearance to shipment," said Wang Jinsong, a declarant in charge of steel export in Urumqi, the regional capital.

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Iron ore miner NMDC has slashed prices of lump ore and fines by Rs 50 per tonne.

The global Coronavirus outbreak is likely to rein in the rally in Indian domestic steel prices.