Brazilian steelmaker Usiminas said on Tuesday it will “temporarily” idle two blast furnaces, effective May 31.
According to the company, the two number 1 blast furnaces at the Cubatao and Ipatinga steel mills will be “temporarily” shut down from May 31 to June 4.
In a filing to Brazil’s securities exchange commission, CVM, Usiminas also said it will reduce pig iron production by 120,000 mt per month.
“Such adjustment aims to adequate production to the current rhythm of demand in the steel market, bringing opportunities for cost reduction and [for the] improvement of the competitiveness of Usiminas in the current market scenario,” the company said.