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ArcelorMittal To Temporarily Reduce Steel Production In Europe

ArcelorMittal (MT) said that it will temporarily reduce its annualised primary flat steel production in Europe by three million tonne, due to weak demand, imports from outside the European union and energy and climate costs.

The company plans to temporarily idle production at its steelmaking facilities in Kraków, Poland and reduce production in Asturias, Spain. In addition, the planned increase of shipments at ArcelorMittal Italia to a six million tonne annual run-rate will be slowed down, ArcelorMittal said in a statement.

The actions will result in a temporary annualised production reduction of around three million tonnes, the company said.

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