Hindalco and JSW steel have taken the decision to scale down or suspend operation following the 21 days lockdown announced by the center for the containment of the COVID-19 pandemic. JSW Steel took such a decision notwithstanding the exception to manufacturing units with continuous operations and the units producing essential commodities. (Steel is considered an essential commodity under the Essential Services Maintenance Act, 1981).
JSW Steel said capacity utilization of the company would ‘go down significantly’ during the period of lockdown.
At the same time, Hindalco has also shut down some of its aluminium and copper manufacturing facilities.
News source: Business Today