Brazilian steelmaker Usiminas cuts production due to coronavirus

Credit: REUTERS/STRINGER

SAO PAULO, April 2 (Reuters) - Brazilian steelmaker Usiminas SA USIM5.SA is halting activity at two blast furnaces at its Ipatinga plant in the state of Minas Gerais and putting employees at its Cubatão plant in Sao Paulo on 30-day vacation, it said on Thursday, citing a sharp fall in steel demand due to the coronavirus pandemic.

Ipatinga has a nominal capacity of about 5 million tons per year, although Usiminas, one of the largest producers of flat steel in Latin America, did not say how much of that will be affected by the stoppage.

(Reporting by Alberto Alerigi Jr. Writing by Jamie McGeever; Editing by Lincoln Feast.)

((jamie.mcgeever@thomsonreuters.com; +55 (0)11 97189 3169; Reuters Messaging: jamie.mcgeever.reuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.