The world's largest steelmaker ArcelorMittal is to maintain production at just 65 percent of capacity at its ArcelorMittal Tubarão works in southeast Brazil, due to the current slump in demand.
In its statement on the issue, ArcelorMittal said, "The No. 2 blast furnace at the Tubarão works is currently in maintenance and will restart its activities as soon as the market stabilizes. This means that we have a 35 percent reduction in production at Tubarão at the moment."
ArcelorMittal Tubarão has a total crude steel capacity of 7.5 million mt a year.