The European Automobile Manufacturers' Association (ACEA) is forecasting a 25pc drop in new passenger car sales in the EU this year as result of the Covid-19 pandemic.

Japanese auto manufacturer Mazda is planning to restart two-shift production at all of its four domestic assembly plants in July to gradually restore output from Covid-19 lows.

ArcelorMittal today announced a €440/t ex-works base price for hot-rolled coil (HRC) in the northwest European market, buyers told Argus.

In the week ending on June 20, 2020, domestic raw steel production was 1,224,000 net tons while the capability utilization rate was 54.6 percent.

Non-prime steel or second-grade steel is not tested as per the relevant standards specification.

Steel is one of the sectors forecast to benefit the most from the agreement.

Japan's biggest carmaker Toyota Motor will maintain domestic production cuts next month but expects its July car output to recover from June's low.

The construction of a major bridge over the Yarlung Zangbo River in southwest China's Tibet Autonomous Region completed closure on Saturday.