The impact has been huge due to supply and demand constraints. India's crude steel output fell by 65% to just 3.13 million tonnes during April. This was reported by the World Steel Association (WSA). In April 2019, India had produced 9.02 MT of crude steel, so it gives an idea of the damage to steel output.

Even as late as March, the output was 8.65 MT. The global steel output also fell by 13% to 137.09 MT in April 2019. China reported a 1.7% fall in steel output at 78.97 MT. During the month of April 2020, India dropped from second place to fifth place in steel output.

The other key steel producers apart from China were Japan (6.61 MT), South Korea (5.50 MT) and the US (4.96 MT). US reported a 32% fall but it was much lower in South Korea and Japan. India was the worst hit among the steel leaders.