Tata Steel cuts production in India due to coronavirus

India's Tata Steel said Wednesday it has begun to cut production at facilities in four major cities, including its flagship plant in Jamshedpur, as the conglomerate takes action to combat the fallout from the coronavirus outbreak.

The company added that work in subsequent plants has been suspended and put into care and maintenance mode.

Tata Steel said it could not yet assess the impact of the situation on its operations and financial results, joining Steel Authority Of India Ltd , which said last week that it had cut its manufacturing operations but could not yet assess the impact. will take.

The company confirmed that in Europe, Tata Steel has cut production to meet weaker demand.

“Overall, steel demand in Europe has fallen sharply compared to normal conditions, and many of our customers have suspended production, including European car manufacturers,” the company said.

Tata Steel Europe produced 2.51 million tonnes in the last three months of 2019.

The company is currently operating all four blast furnaces at reduced levels at its steelmaking centers in Iymeiden, The Netherlands, and Port Talbot, Wales, the company said Wednesday.

More than 850,000 people have been infected with the coronavirus worldwide and over 40,000 have died, triggering a pandemic that stifles demand for goods.