Stainless steel producer Aperam has halted production at its European product lines amid the global COVID-19 outbreak. Many countries have closed their boundaries and imposed travel restrictions to contain the spread of the disease, which has impacted trade. Measures introduced by the governments of various countries have affected their ability to receive supplies, the company said in a statement.
The company has a flat Stainless and Electrical steel capacity of 2.5 million tonnes in Brazil and Europe. In 2019, the company shipped 1.79mn mt of steel and its sales amounted to EUR4,240mn. With the spread of COVID-19 across the world, the global manufacturing and auto sector has been hit, impacting demand for all the metals. Many auto makers in Europe have also suspended production for the time being.