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Europe’s steel industry under pressure amid falling orders, personnel challenges

Agmetalminer - Europe’s steelmakers are cutting production and idling factory lines as an industry already buckling under a severe market downturn girds itself for the economic fallout from coronavirus, the Financial Times reports.

Companies such as Thyssenkrupp and Tata Steel have taken action because of falling orders, a lack of available personnel or as a safety precaution against infections, while market leader ArcelorMittal, the world’s largest steel producer, has reduced output at most of its plants on the continent.

Steel producers cite a number of reasons, chief among them being worker safety, but collapsing sales are probably as much of a dynamic.

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