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ArcelorMittal Cuts Operations in Europe Amid Unfavorable Market Conditions

Sunday, September 18, 2022

Luxembourg-based steelmaker ArcelorMittal has announced that it has made some decisions regarding its operations in Europe due to the unfavorable global market conditions in which energy prices are high, steel demand is weak, carbon costs in steel production are high and the economic outlook is negative.

Taking into account the situation in the market and the outlook for the coming months, the company will idle blast furnace A at its Asturias plant in Spain at the end of September, due to high levels of imports from non-EU producers that are not affected by the increasing costs linked to the EU Emissions Trading System which adversely impacts the competitiveness of European producers. ArcelorMittal delayed the resumption of the electric arc furnace at its Sestao plant in Spain until further notice. ArcelorMittal, whose competitiveness has been negatively impacted by the high costs of natural gas and electricity, has also decided to shut down one of the two blast furnaces at the Bremen flat steel site in Germany from the end of September until further notice. At the Hamburg long steel plant, the company’s direct reduction plant will also be shut down from the fourth quarter. Meanwhile, ArcelorMittal has reduced shifts at its Duisburg and Eisenhüttenstadt plants. In addition, the company stated that it will take measures in France to align the level of production with that of demand and to maintain its competitiveness in its markets. Accordingly, the company will shut down the operations of its blast furnace No. 3, a sinter line and two galvanizing lines at its Dunkirk plant.

www.arcelormittal.com

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