In a statement, the company said it is idling the No. 2 furnace at its Ipatinga plant now and plans to halt the No. 1 furnace at the plant on 22 April. It also will suspend operations at the Ipatinga plant's No. 1 steel shop as well as at its Cubatão plant in the state of São Paulo.
“Such measures, of temporary manner, aim to adjust the production to the market demand, which is dropping due to the national economic downturn arising from the spread of the new coronavirus,” the company said.