Argentinian steelmaker ArcelorMittal Acindar will suspend steel output for ten days in March at one of its mills as a result of weak market conditions.
Acindar will temporarily suspend steel production from March 18-28 at its mill Santa Fe mill, located in the province of same name in Argentina.
A company’s spokesperson told media that Acindar has been affected by a weak demand in the domestic market, and the move was a way it found to preserve the company while adjusting output levels to current market conditions.
In addition to the temporary shutdown of steel production at its Santa Fe mill, Acindar announced a 5 percent decline in the price of the steel it sells in Argentina. The price adjustment affects wire, bars and profiles, among other products.
“The move responds to the strong commitment Acindar has to support the government in its efforts to fight inflation,” Acindar said.