ArcelorMittal announces further cuts in EU steel production

ArcelorMittal announced further production cuts at EU steel mills in an attempt to adjust production in the region to current weak market conditions. The rise in imports, despite EU regulations and falling market demand, continues to have an impact on the steel mill.

According to a press release issued by the company, it has decided to cut production at its plants in Dunkirk, France, and Eisenhüttenstadt, Germany. The planned shutdown due to repairs in a blast furnace at a steel mill in Bremen, Germany, will be extended. The company also intends to reduce primary production from the facility during the fourth quarter of this year. In addition, ArcelorMittal has also decided to extend the planned shutdown due to the repair of a blast furnace at its plant in Asturias, Spain, in the fourth quarter of 2019.

Commenting on the decision to cut production, Gert van Poelvoorde, CEO of ArcelorMittal Europe-Flat Products, said market weakness pushed the company to make tough decisions. These are temporary measures that will be canceled if the market conditions improve, he said. In addition, he assured that the company will provide full support to its employees and their families during this difficult time.

Earlier this month, the company decided to temporarily suspend steel production at its plants in Krakow, Poland, and cut production at its plant in Asturias, Spain.