New measures set out by authorities to confine populations and by the company to protect employees have triggered severe disruptions to operations, the document said.
The move has sparked predictions that many steel companies will likely follow suit as the Covid-19 pandemic worsens. “Everybody’s going to be declaring force majeure
. We saw it all the time after the global financial crisis of 2008,” a source told Fastmarkets.
A number of market participants in the ferro-alloys industry told Fastmarkets that they had received the letter, but various markets are understood to...