PTI reported that Kolkata based SAI Group is planning to invest INR 1,000 crore over the next 3-5 years in West Bengal for its steel business.

The Shougang Tonggang Limited Company, an iron and steel company in Tonghua city, has also resumed work.

China has made considerable progress in speeding up coal production and resumption of work to contain the novel coronavirus pneumonia.

Authorities in Fuzhou, capital of East China's Fujian province, are stepping up efforts to help businesses resume production after the prolonged shutdown for the Lunar New Year holiday.

"In the third quarter, I think you'll see a meaningful rebound aided by measures taken by the central bank," he told China Daily.

China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemic.

ferro-alloys.com: Kumba 'has an arrangement' to safeguard impact of coronavirus on iron ore deals

The Telegraph reported that British Steel bidder Jingye is set to axe 400 jobs at the embattled firm's Scunthorpe plant as it closes in on a takeover.