Tata, Liberty Steel cut European output due to drop in demand
2020-03-27 16:55:18 [Print]
Tata Steel Europe and Liberty Steel have joined other European steel groups in cutting production after automakers and other firms slashed output due to the coronavirus outbreak.
Many European carmakers have suspended production at factories across Europe.
The lack of demand has prompted Tata to reduce production although it is keeping its main furnaces running, Tata said on Thursday. "We will continue to operate all four blast furnaces across our two steelmaking hubs – in IJmuiden, the Netherlands, and Port Talbot, Wales. However, liquid steel production will be reduced as a consequence of the sudden drop in demand," it said, without saying how much output was cut.
Privately-held Liberty Steel, owned by the GFG Alliance, also said it was cutting back. "GFG Alliance continues to adjust production to demand on a plant by plant basis with its highest priority being the safety of its employees," a statement said. Steel plants in Britain, Poland and Romania were still open, and Liberty did not say by how much it was reducing production.
Liberty Steel said it had idled smaller rolling mills in Belgium, Luxembourg and Italy plus three British businesses that make components for the auto industry, including one using aluminum.
Liberty Steel, with operations in 10 countries, has annual output of about 18 million tons.
The world's biggest steelmaker Arcelor Mittal said last week it was reducing production at its European operations, but did not say where or by how much it was cutting output.
Many European carmakers have suspended production at factories across Europe.
The lack of demand has prompted Tata to reduce production although it is keeping its main furnaces running, Tata said on Thursday. "We will continue to operate all four blast furnaces across our two steelmaking hubs – in IJmuiden, the Netherlands, and Port Talbot, Wales. However, liquid steel production will be reduced as a consequence of the sudden drop in demand," it said, without saying how much output was cut.
Privately-held Liberty Steel, owned by the GFG Alliance, also said it was cutting back. "GFG Alliance continues to adjust production to demand on a plant by plant basis with its highest priority being the safety of its employees," a statement said. Steel plants in Britain, Poland and Romania were still open, and Liberty did not say by how much it was reducing production.
Liberty Steel said it had idled smaller rolling mills in Belgium, Luxembourg and Italy plus three British businesses that make components for the auto industry, including one using aluminum.
Liberty Steel, with operations in 10 countries, has annual output of about 18 million tons.
The world's biggest steelmaker Arcelor Mittal said last week it was reducing production at its European operations, but did not say where or by how much it was cutting output.
