German-based steelmaker ThyssenKrupp plans to reduce its steel output and lower working hours from mid-April to early May due to the coronavirus pandemic’s impact on the steel sector, according to a report by Reuters.
A spokesman for Thyssenkrupp Steel Europe told Reuters, “In light of the economic impact as a result of the corona crisis, we are adjusting our production chain. This includes blast furnaces as well as processing.”
The company stated that there may be additional output cuts in the coming period although it did not release a specific figure.