Saarstahl Ascoval cuts steel production by 50% due to high energy costs

German long steel producer Saarstahl has decided to cut steelmaking capacity at its French steel mill Saarstahl Ascoval by 50% from October to December due to high energy costs.

The furnace at Askovale will be closed every Monday in October and restarted every morning from Wednesday to Sunday in November and December.

Due to low market demand, Luxembourg steelmaker ArcelorMittal shut down two of its blast furnaces in France in September.