ArcelorMittal Luxembourg has no plans to close production

Roland Bastian, CEO of ArcelorMittal Luxembourg, said the company has no plans to cut or stop production at its Luxembourg plant due to sufficient orders.

Due to rising energy prices and weak demand for steel, ArcelorMittal previously temporarily suspended production at two blast furnaces in France and one each in Germany, Poland and Spain.

ArcelorMittal said its steel plant in Luxembourg will stop electric arc furnace (EAF) production during times of rising electricity prices, especially in the morning and evening, to minimize the harm caused by high electricity prices.