Save
PrintArcelorMittal, the world's No. 1 steelmaker, will idle around 8.4 million mt of pig iron capacity at plants in Western Europe in the coming weeks, financial services group Steubling wrote in a research note Wednesday.
Steubling's calculation includes two blast furnaces in Belgium (Liege-Ougree and Gent), as well as ones in France (Florange) and Spain (Gijon). The largest blast furnace in Eisenhuttenstadt, Germany – blast furnace No.5 -- will be mothballed and a smaller one recommissioned, Steubling said.
The figure does not include other European locations, including Romania, where temporary layoffs were announced last month following cuts in production.
Last week, ArcelorMittal said "harsh market conditions" had made it "necessary" to continue the suspension of production at its sites in Europe. In a presentation, dated March 18, ArcelorMittal said its capacity utilization would remain between 55% and 60% during the first quarter of 2009. –Platts
Copyright © 2013 Ferro-Alloys.Com. All Rights Reserved. Without permission, any unit and individual shall not copy or reprint!
- [Editor:editor]
Daily News
Research
Magazine
Company Database
Customized Database
Conferences
Advertisement
Trade
Online inquiry
Contact
Tell Us What You Think