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Russia's Evraz temporarily halts production at U.S. plant

Reuters - UK Focus

MOSCOW, June 4 (Reuters) - Russian steelmaker Evraz said on Thursday it had temporarily halted work at its North American Pueblo production plant due to weaker demand.

"We have temporarily curtailed steelmaking production at our Pueblo facility for one week to align production with decreased demand," a company spokesman said.

Around 100 employees will be temporarily laid off until the plant reopens, he added.

Evraz (LSE: EVR.L - news) and other steelmakers which produce metal pipes for the oil and gas industry have been hit by a 40 percent drop in oil prices since June last year.

The Denver Post newspaper reported in January that Evraz was furloughing 200 workers from its Pueblo plant until prices improved. (Reporting by Svetlana Burmistrova and Jack Stubbs; Editing by Elizabeth Piper)