Arcelor to reduce flat carbon steel production
Luxembourg-based steel producer Arcelor announced plans to reduce its flat carbon steel production by around 1 million tons in order to balance supply with lower demand in the European market. Demand for flat carbon steel products in Europe has decreased by 14% due to the high level of inventories, company sources inform. In line with the plan, Arcelor will shut down a blast furnace in Stahlwerke Bremen, reduce production at its Cockerilll Sambre in Belgium and ACB plant in Spain, and prolong the standby status of a blast furnace at EKO Stahl in Germany. Arcelor will follow its policy until demand returns to normal levels.