EU metallurgists reset some of the closed blast furnaces

EU metallurgists have reopened nearly half of the blast furnaces that were shut down amid the financial crisis and held back the sector's recovery, weighed down by overcapacity and high energy prices.

This year alone, ArcelorMittal, the largest steel producer in the world, is restarting blast furnaces in Spain with an annual capacity of 2.4 million tons and a furnace in France with an annual capacity of 7 million tons. A leading player in the industry, which indirectly employs millions of Europeans and experienced severe hardships during the 2008 financial crisis, said steel demand in the EU sector is expected to rise 2-3 percent this year after two consecutive years of declines.

Wolfgang Eder, CEO of Austrian steel company Voestalpine and former president of the Eurofer steel association, said that “Of the fourteen blast furnaces that have been out of service since 2008, almost half have returned to service. prices ".

Steel production in Europe rose 6.2 percent on an annualized basis, second only to the Middle East, according to Worldsteel. 41.5 percent YoY in May, and the country's growth has slowed as its mills continue to set record levels in steel production.