Steel output reduced globally
The Italian government in March ordered the closure of all non-essential production
operations in the country, including steelmaking, as part of measures to battle the Covid-19 virus pandemic. Originally the measures were set to last until April 3 but as the lockdown was extended to April 13 and assets will remain shuttered accordingly.
Algerian steelmakers also significantly reduced or stopped operations
at the end of March because of the health emergency. As for re-rollers, market participants said their operations had also been suspended because traders who supply billet for re-rolling had stopped import operations.
Several steel mills in the Izmir region of Turkey were heard to be closing down
or reducing production, while one steel producer in the Iskenderun region was also reportedly halting production to carry out maintenance, Fastmarkets reported.
“The stoppages of active steel production capacities are not really being coordinated....