Covid-19 impact: AMNS India's March operations take a hit due to lockdown

The company said that it had moved to match production with the evolving orderbook; steel shipments for 2Q 2020 were expected within the range of 13.5 million tonnes to 14.5 million tonnes

ArcelorMittal’s India operations, under the joint venture (JV) with Nippon Steel, have recorded an Ebitda (earnings before interest, taxation, depreciation, and amortisation) of $140 million, despite some impact due to the lockdown.
 

While announcing its March quarter results, ArcelorMittal said CY20 began on a strong footing, with ArcelorMittal Nippon Steel India (AMNS India) achieving robust production and shipment performance in January and February. However, operations were hit in March by the lockdown.
 

 “Despite the impact, AMNS India reported crude steel production of 1.7 million tonnes (7 million tonnes annualised run rate) and Ebitda of $140 million ($560 million annualised) for