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.

Manufacturers are exploring alternatives to fulfil their supply chain demands but that would also take a substantial amount of time to reach stable production scale as these components would need regulatory testing, reiterated Mr Wadhera.

In view of COVID-19 being reported in several cities, Tata Steel has been decided to suspend all domestic travel on company business with immediate effect as a measure of abundant precaution.

Angang high end pressure vessel steel settled in Huanqiu again

ferro-alloys.com:US steel production not smashed by Coronavirus

ferro-alloys.com:Steel output of China from Jan-Feb increases 3.1% in spite of coronavirus interruptions

ferro-alloys.com:Sharp increase in Chinese Steel Inventory

Latin American steel association Alacero announced that the steel consumption in Latin America in 2019 registered a 5% decrease.