Brazilian flats steelmaker Usiminas said it expects decreased steel sales due to the coronavirus outbreak worldwide and in Brazil.
The company said it can’t determine the extent of losses, but said steel sales should decline in “the next (few) months.”
Usiminas attributed the hit in sales to “global economy retraction, recent announcements by Usiminas clients, especially in the automotive segment.”
The Brazilian automotive segment will halt output at different time ranges from March 27 to April 21.
Fiat Chrysler Automobiles (FCA) will halt cars output at four facilities from March 27 to April 21. Toyata Brazil will suspend production from March 24 to April 6, and Renault do Brasil from March 25 to April 14.
Usiminas said the impact of Covid-19 in the Brazilian economy as well as on its suppliers make it difficult to the flats producer to determine the extent of Covid-19.