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

India’s JSW Steel expects a significant reduction in its capacity utilization rates during the country’s 21-day lockdown following its move to suspend or scale down operations across various locations, it said on Thursday March 26.

Turkish steel producers remained quiet in the deep-sea scrap import markets while suppliers were unwilling to sell at current price levels, sources said on Wednesday April 1.

Major Japanese steelmaker JFE Steel is facing the prospect of recording zero profit for the year ending March 2020 for the first time in its history due to global economic tensions and rising raw materials prices, it warned on Friday March 27.

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.

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.

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

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.