Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Russian steelmaker NLMK confirmed it is temporarily stopping production at its heavy plate plant in Verona, Italy for at least two weeks to contain the COVID-19 spread. Its other European plants will continue operating for now, according to media reports.


NLMK also produces plate at its European plants in Denmark and Belgium. The company has a strip rolling plant in Belgium and France. These operations, while not affected by stoppages at present, are being monitored for operational changes should the situation change.


The company has implemented measures to prevent COVID-19’s spread and the company is looking for solutions for its customers in essential sectors, such as food and medicine producers, according to reports.


The steel producer said the company would also withdraw its previously issued guidance on its 2020 capital expenditure program due to global uncertainty caused by the pandemic, per media sources. 


The company also plans to postpone beginning some of its expansion projects, in addition to downward allocation revisions. 


The plant, in northern Italy, heavily affected by the virus, employs 260 people and has capacity to produce 450,000mt of steel per year. 

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