March 2020

Gerdau freezes price increase attempts in Brazil amid low demand, analysts say

Gerdau has halted price increase attempts in Brazil amid market weakness because of the Covid-19 pandemic, according to a report by local investment bank Itaú BBA from Sunday March 29.

SSAB plans temporary job, output cuts in Finland on Covid-19 effects

Swedish steelmaker SSAB plans temporary worker layoffs at its operations in Finland, and consequently a reduction in output, in response to the downturn in the flat steel market resulting from the Covid-19 pandemic, the company said on Monday March 30.

More Turkish carmakers stop production amid Covid-19 pandemic

Several Turkish carmakers - Honda, Karsan, MAN, Anadolu Isuzu, Temsa, Türk Traktör, Hyndai Assan and Otokar - announced production stoppages this week because of concerns about the spread of the novel coronavirus (2019-nCoV).

ArcelorMittal restarts long steel operations in Luxembourg

ArcelorMittal has resumed operations at its long steel manufacturing sites in Luxembourg, where it stopped operations about a week ago because of the Covid-19 pandemic, the company said on Monday March 30.

EMR announces cuts in UK operations due to coronavirus

European Metal Recycling (EMR) has shut down part of its operations in the UK due to the Covid-19 virus outbreak, the company said on its website on Friday March 27.

Algeria cuts steel output to limit Covid-19 pandemic, sources say [UPDATED]

Algerian steelmakers Algerian Qatari Steel (AQS) and El-Hadjar Iron & Steel Complex have stopped crude steel production because of the Covid-19 pandemic, market sources told Fastmarkets on Friday March 27.

AT A GLANCE: JFE Steel faces zero profit for first time in history

Major Japanese steelmaker JFE Steel is facing the prospect of recording zero profit for the year ending March 2020 for the first time in its history due to global economic tensions and rising raw materials prices, it warned on Friday March 27.

Camu pitches streamlining, renaming of scrap in call to reopen Chinese market to imports

The China Association of Metalscrap Utilization (Camu) is urging the Chinese government to reopen the country to ferrous scrap imports to meet rising demand and reduce steelmaking costs.

INDIA LOCKDOWN: The supply chain shock to the ferrous industry

On Tuesday March 24, India’s Prime Minister Narendra Modi announced that 1.3 billion individuals would be put under a state of lockdown for 21 days to prevent the spread of the Covid-19 virus in the country.

ArcelorMittal to idle No3 blast furnace in Brazil’s Tubarão facility

ArcelorMittal will idle the No3 blast furnace at its integrated slab and flat steel Tubarão facility, in the country’s southeastern Espírito Santo state, because of impacts from the spread of the novel coronavirus, the company said on Friday March 27.