the Largest steel producer in China and the world's Baoshan Iron & Steel Co (Baosteel) said it will reduce pig iron production in 2020 due to the major fire that occurred on Sunday, March 8.

According to a statement published on the official Weibo account of the Department affected by the fire there. The fire started March 8 at about 10:45 p.m. local time. The fire damaged the steel in a blast furnace and she in a short time produced high temperature gas.

Baosteel has already announced that inspects the equipment. Production will be resumed after the recovery work. The assurances of the company, as a result of emergency environmental damage there.

Previously coalsalesthat Baosteel will issue bonds worth up to 3 billion yuan (430 million dollars), mainly to increase working capital in terms of the outbreak of coronavirus.

the Company is located in Shanghai and specializiruetsya in the production of high-carbon, stainless, structural and tool steel and steel products (rod, sheet, wire, tube, rings, forged and cast products).