ArcelorMittal will further reduce crude steel production in Europe

Release time：Jun 21, 2019 From：admin

Affected by the recent downturn in the European market and increasing steel imports, AncelorMittal announced on May 6 that it planned to reduce the output of European companies, and on May 29 that it decided to further reduce the output of crude steel in Europe.

It is understood that AncelorMittal will reduce crude steel production in Dunkirk, France and Eisen Schutenstadt, Germany; reduce crude steel production in Bremen, Germany, in the fourth quarter of this year, while extending the planned blast furnace shutdown maintenance period of the steel plant; and extend the shutdown maintenance period of the blast furnace in Asturias, Spain, in, in the fourth quarter of this year.

"It's a tough decision to temporarily reduce crude steel production in Europe, but it's not rash," said Bolward, chief executive of ArcelorMittal's flat steel business. Given the current level of market weakness, we think this is a wise choice. We understand the impact this initiative will have on employees and local communities, and will strive to ensure that appropriate measures are taken to support them during the reduction. At the same time, he pointed out that this would be a temporary measure, which could be cancelled once market conditions improved.

On May 6, AncelorMittal announced through its official website that it had decided to suspend its steel production in Krakow, Poland, and cut production at Spain's Asturias Steel Plant. In addition, in line with the operating principle that cost and quality take precedence over output, the original production plan of 6 million tons of crude steel per year for Ancelotal Mittal Italy Branch will also be delayed. These measures will temporarily reduce the annual crude steel production of Ancelotal in the European region by 3 million tons.