Global crude steel production fell 6% to 147.1 million tonnes in March from a year earlier, World Steel Association data showed on Wednesday, as the coronavirus crisis forced the closure of furnaces.
 
Crude steel output from China, the world's top producer and consumer of the metal, however, has seen only modest production erosion from the coronavirus pandemic, with output down 1.7% in March to 79 million tonnes.
 
But other regions such as Europe and Japan have been hit hard due to slumping demand from automakers and construction projects.
 
Steel production in the European Union tumbled 20.4% to 12 million tonnes in March, while North American output dropped 9.4% to 9.7 million tonnes.
 
Source : https://www.firstpost.com/business

EU steel makers could be flooded by cheap products from overseas amid a glut in world stockpiles due to the pandemic, which saw orders fall by up to 75 percent, the EU's trade commissioner, Phil Hogan, has warned. "Third country exporters may well decide to sell their product at below cost or at all cost ... with a view to gaining larger stakes in a smaller EU market," he said.
 
Source : https://euobserver.com

Steel scrap prices in many parts of Asia kept stable over the week of April 10-17. In Taiwan for example, the landed price for imported HMS 1&2 (80:20) scrap ended its five-week decline and stayed unchanged at $208/tonne CFR as of April 17, mainly thanks to the rebound in global scrap prices, Mysteel Global noted.
 
Source : https://www.mysteel.net/article