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.