ArcelorMittal to temporarily cut EU steel output
In addition, the planned increase of shipments at ArcelorMittal Italia to a six million tonne annual run-rate will be slowed down following a decision to optimise cost and quality over volume in this environment.
Together, these actions will result in a temporary annualised production reduction of around three million tonnes.
In Kraków, the primary production (blast furnace and steel plant) will be temporarily idled.
The Polish steel market has been particularly hard hit, due to a near fourfold year-on-year increase in Russian steel imports in 2018, and among the highest electricity prices in Europe.
In Asturias, primary production will be reduced.
Electricity costs are also very high in Spain, and the southern European market has been hit by an unprecedented rise in imports from outside the EU.
Despite the introduction of the permanent EU safeguard tariffs in February 2019 there has been a continued and consistent rise in flat steel imports into Europe. ■