According to a statement submitted to the Bucharest Stock Exchange on Tuesday, September 2, the decision was described as difficult but necessary due to the deteriorating market conditions.
Reasons for stopping
The company identified several factors that led to the suspension.:
- High electricity prices, which continue to have a strong impact on operating costs.
- Limited government support for the steel industry.
- Increased competition from cheap imports, undermining competitiveness in both domestic and European markets.
In addition, the company reported that its order book has decreased by almost 60 percent compared to 2024, making continued operations unsustainable.
Impact on employees
ArcelorMittal has confirmed that during the temporary shutdown between September 5 and September 30, employees who are technically unemployed will receive 75 percent of their base salary. However, with the extension of the suspension, these measures are expected to continue indefinitely.
The company stressed that discussions with social partners will be held.
