ArcelorMittal idles plant in northern Spain

Tuesday, 26 January 2016 17:22:46 (GMT+3)   |   Brescia
       

On Monday, January 25, a spokesman for global steel producer ArcelorMittal announced that the company has idled a steel plant in Spain due to "extremely adverse" market conditions.

The plant in Sestao, northern Spain, will be idled indefinitely, putting 330 jobs at risk. The plant, which producers steel slabs and coils, has an annual output capacity of 1.5 million metric tons.

"Management has taken the decision in view of extremely adverse conditions, with falling steel prices caused by record imports from China at prices below production costs," the ArcelorMittal spokesman stated.

ArcelorMittal produces nearly half of Spain's steel, employing around 9,500 people. The Sestao site is one of 12 Spanish operations owned by ArcelorMittal


Similar articles

Slab prices down globally in Feb, but insufficient for buyers with further drops awaited

01 Mar | Flats and Slab

Iran’s steel exports up 9.1 percent in first 10 months of Iranian year

14 Feb | Steel News

Reference price Brazilian slab export offers trends mostly stable

26 Dec | Flats and Slab

Global slab prices strong and may rise further, Asian suppliers most active  

01 Dec | Flats and Slab

Slab offers rise sharply in Turkey, leaving only a few origins in focus

23 Nov | Flats and Slab

Germany’s Dillinger expands ultra-heavy plate production

17 Nov | Steel News

Turkey shows interest in import slab, books cargoes from Malaysia

14 Nov | Flats and Slab

Brazilian export slab price expected to rise

29 Sep | Flats and Slab

Russia officially imposes export duties for most steel and raw materials until end of 2024

21 Sep | Steel News

Turkey prefers own slabs over most import options, bids much lower for Russian origin

13 Sep | Flats and Slab