According to the report, after the outbreak of the Covid-19 epidemic, several of Brazil’s steel makers, including Gerdau and Usiminas, announced to reduce the output and shut down the blast furnace. However, Companhia Siderurgica do Pecem (CSP), Brazil’s slab producer, which was jointly established by Vale, South Korean Dongkuk Steel and Posco, planned to continue its operations.

In order to cope with the decline in domestic slab demand, the company intended to open up the new markets and expected to find an undisclosed alternative market to maintain a certain level of output and rescue the employment opportunity.

It was understood that CSP had maintained production so far, and the total output of slab in March was still equivalent to the company's average output level.