Italy’s Arvedi to reduce steel output
Italian steelmaker Arvedi is joining fellow producers in slowing output, according to market sources, after a number of customers decided to temporarily shut down or reduce production.
Arvedi will cut two days of production, by operating on weekdays only. Its flagship steelworks are located in Lombardy, the Italian region most severely affected by coronavirus.
ArcelorMittal Italy today confirmed that it will cut production because of the virus, which has resulted in original equipment manufacturers and flat steel processors temporarily shutting down, as automotive giants such as Fiat and PSA Group have closed many of their European plants.
Arvedi is an electric arc furnace-based producer, and its 2018 steel sales amounted to 3.3mn t. The company previously said that its production and logistics were unaffected by the government restrictions imposed to try and tackle the spread of coronavirus.
But steelmakers across the country have been experiencing problems and delays with deliveries, especially to customers outside of Italy, as other countries close down borders or impose stricter control, market sources said.
By Lora Stoyanova
source: Argus Media
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