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.

Lower-grade iron ore contract prices will narrow or erase discounts in July, as spot differentials have gained further support from supply disruptions, product upgrades and margin pressures.

One rail line was re-opened at 03:00 local time this morning but there is no firm restart date planned for the second line, a spokesman for TFR said.

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

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.

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.

Japan’s crude steel output for the year to March 2020 was 98.43 million tonnes, down 4.3% from a year earlier.