The Chinese company HBIS, which owns the Zelezare in Smederevo, stopped production in one of its two blast furnaces. The cessation was brought about by the impact of quotas on steel exports to EU countries, but also reduced demand for steel because of the coronavirus pandemic.
The business has had to adapt to the current situation, so the furnace will only be fired up again once market conditions warrant. The company’s crisis management team said it would decide how to handle their employees based on experience gained from their operations in China.
