ArcelorMittal declares force majeure in Europe on raw materials
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.