ArcelorMittal cuts production second time this monthChristian Fernsby ▼ | May 29, 2019
ArcelorMittal, the world’s largest steelmaker, cut steel production in its main market, Europe, for the second time this month, blaming weak demand and high imports.
It would also cut steel output at its plant in Bremen, Germany, in the fourth quarter of the year, extending a planned blast furnace stoppage for repairs, and extend a similar scheduled stoppage in the final quarter in Asturias, Spain.
At the start of May, ArcelorMittal temporarily idled production at its facility in Krakow, Poland, reduced output in Asturias, and slowed down a planned increase of shipments from Italy.
Geert van Poelvoorde, the head of the flat products division of ArcelorMittal in Europe, said the production cuts would be reversed when market conditions improve. ■