Romania-based ArcelorMittal Hunedoara SA, a subsidiary of Luxembourg-based steel giant ArcelorMittal, has announced that it has temporarily suspended its operations.
Accordingly, due to financial difficulties as a result of extremely high electricity prices, the company’s production will be halted until the end of March this year in order to reduce losses.
As SteelOrbis reported previously, in December last year ArcelorMittal Hunedoara had temporarily reduced its production amid a lack of orders.