Mittal to reduce steel production in Q3
Mittal Steel announced yesterday that it decided to reduce its European steel
production by 360'000 tons in the third quarter due to lower demand.
The move follows the
production cuts announced by major European steel producers, namely Arcelor, Corus, ThyssenKrupp and Salzgitter.
Mittal will reduce its
production 120'000 tons per month at its European facilities in the third quarter. Mittal did not announce whether
production will be reduced at its facilities outside
Europe.