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Hoa Phat Group, the largest steel maker in Vietnam, exported over 20,000 tonnes of construction steel in April, up 17 percent year-on-year.

Iron and steel export volume hit 858 tonnes, up 17-fold, while value surged 18 times annually to 1.27 million USD.

"Moreover, we intend to export 5,000-8,000 tonnes of ferro-silicon this year to North America."

Import prices for flat-rolled steel into South America were steady to slightly higher during the past week.

Automotive production in Brazil plunged in April due to massive shutdowns stemming from the Covid-19 pandemic.

Concerns about Brazilian iron ore supply resurfaced among market participants this past week.

The average capacity utilisation was clocked at 38% for April 2020, the company said in a statement.

Tehran has imposed new limits on exports of Iranian steel, requiring exporters to secure export permission from the ministry of industry, mine and trade.