According to market sources, Italy's steelmakers have not yet made any production cuts due to the virus and steel shipments have not been impacted.

Japan's slowing economy has steelmakers worried as the country's manufacturing sector sees more pressure from the impact of the COVID-19 outbreak.

Steel major Baoshan Iron and Steel Co Ltd is banking on its smart manufacturing and logistics strengths to sustain production even as the novel coronavirus outbreak forces several companies to suspend production.

China's steel industry, which has been facing a rough time due to rising inventories and falling product prices due to the novel coronavirus outbreak, is expected to recover rapidly during the second quarter of this year, experts said.

China is boosting efforts to ensure the energy supply for hospitals in Wuhan to fight against the novel coronavirus.

ferro-alloys.com:Stainless steel imports of Turkey decrease however exports increases

IANS, citing sources, reported that JSW Steel is likely to pay INR 19,700 crore to acquire the bankrupt Bhushan Power and Steel Ltd by March 15.

The Shougang Tonggang Limited Company, an iron and steel company in Tonghua city, has also resumed work.