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According to Yieh.com, last week the Brazilian company Gerdau announced a reduction in production at its facilities in North and South America, as faced with a sharp drop in demand for steel, especially in the industrial and construction sectors, due to the coronavirus epidemic.
The Brazilian company, which is also the largest producer of long steel in Latin America, said it would close Ouro Branco's blast furnace 2 this month, with a capacity of 1.5 million tons per year, while maintaining the function of blast furnace 1, which has a capacity of 3 million tons.
The company also said that in April there will be stops at its various enterprises in Brazil, but did not give details. The stop also included special steel operations in the country and the United States, as the automotive sector suspended operations in both countries at least until the end of April.
In addition, the company will support the closure of its plants in Peru and Argentina following national emergency orders.
