Beijing Customs said Thursday that its imports and exports in the first quarter of this year totaled 625.42 billion yuan (about $88.34 billion), down 6.2 percent from the same period last year.

New home sales are recovering faster than expected in China.

China steel sector slows growth due to coronavirus outbreak.

China is expected to see its weakened demand for steel forge a strong recovery in the second quarter as the country's infrastructure investment and production resumption gains more momentum, the China Iron and Steel Association (CISA) said Wednesday.

Continued supply tightness of ferrous scrap and higher overseas demand for Turkish rebar has limited the immediate-term downside for Turkish imported scrap prices despite a fall in local rebar demand in Turkey this week.

Japan's auto sales fell in March for a sixth straight month.

Covid-19-related shutdowns of automotive plants across North America could cost US automakers at least 900,000 vehicle sales this year, reducing steel demand, according to industry estimates.

The US produced 7.2 Mt of crude steel in March 2020, a decrease of 6.0% compared to March 2019.