ArcelorMittal declares force majeure in Europe on raw materials

By IM Staff
Published: Monday, 23 March 2020

ArcelorMittal’s sourcing business has declared force majeure on contracts amid the spread of the novel coronavirus (2019-nCoV) in Europe, according to a letter seen by Fastmarkets.

By Janie Davies and Orla O'Sullivan

New measures set out by authorities to confine populations and by the company to protect employees have triggered severe disruptions to operations, the document said.

The move has sparked predictions that many steel companies will likely follow suit as the Covid-19 pandemic worsens. "Everybody’s...

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