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

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.

ferro-alloys.com:Steel firms ponder yield cut in the midst of repressed interest

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

China's iron and steel sector saw overall stable growth in 2019, as the continued effort in cutting overcapacity filtered through, data showed.

In the week ending on March 14, 2020, US domestic raw steel production was 1,878,000 net tons while the capability utilization rate was 80.5 percent.

US Federal Reserve announced that it is dropping its benchmark interest rate to zero and launching a new round of quantitative easing entailing USD 700 billion worth of asset purchases of Treasurys and mortgage-backed securities.