According to a Reuters report, the leading steelmaker ArcelorMittal expects a fall of 1.5 million mt in its European steel production in the fourth quarter on a yearly basis as it is halting one blast furnace at Germany, Spain and Poland units, as SteelOrbis previously reported. The decision to idle some capacities came amid the weakening demand and soaring energy prices. Meanwhile the steelmaker said it has no plans to close blast furnaces in the Luxembourg plant for now.
Sluggish demand especially from the automotive industry, coupled with the energy crisis instigated by the reduced Russian gas supply as an outcome of EU’s sanctions on the country, force EU steelmakers to adjust their productions. Italian Alfa Acciai’s subsidiary Acciaierie di Sicilia and Spanish Megasa are among the ones who decided to reduce their production.