Coronavirus impact: Steel players consider to cut production

The industry sources said top management of major players like Tata Steel, JSPL, ArcelorMittal Nippon Steel India (AMNS India) and state-owned SAIL and RINL are also discussing similar move.

PTI

March 26, 2020 / 01:20 PM IST

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Steel companies, including those under public sector, are considering to scale down production amid coronavirus outbreak, according to sources. Sajjan Jindal's JSW Steel has already announced its decision to cut production at its plants.

The industry sources said top management of major players like Tata Steel, JSPL, ArcelorMittal Nippon Steel India (AMNS India) and state-owned SAIL and RINL are also discussing similar move.

In many states, movement of raw material needed for Steel making is being impacted due to nationwide lockdown, they added.

Employees in the industry are facing difficulties in reaching their offices.

"There is no purpose of just producing and building up inventory levels. Till when the players will produce and keep on piling the output. They can't stop the blast furnaces which are supposed to function continuously, but reduce production," a source said.

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