Steel Mills

ArcelorMittal Announces More Cuts to European Production
Written by Sandy Williams
May 30, 2019
ArcelorMittal announced it will make another cut to European production levels due to weak demand and high import levels in the region.
Primary steelmaking will be reduced at facilities in Dunkirk, France, and Eisenhüttenstadt, Germany. Production at the facility in Bremen, Germany, will be reduced during the fourth quarter as well as extending planned furnace repair outages during the quarter at Bremen and Asturias, Spain.
Geert van Poelvoorde, CEO, ArcelorMittal Europe – Flat Products, said: “This is a hard decision for us to have taken, but given the level of weakness in the market we feel it is the prudent course of action. This will be a temporary measure that will be reversed when market conditions improve. In the meantime, our employees remain our utmost priority, and we are doing everything we can to ensure that the right social measures are in place to support them and their families during this difficult time.”
Wednesday’s announcement follows a May 6 decision to temporarily idle production at the company’s steelmaking facilities in Kraków, Poland, and to reduce production in Asturias, Spain.
The planned ramp-up of shipments to six million metric tons annually at ArcelorMittal Italia will be slowed down, favoring cost optimization over volume in the current environment.
Analysts at KeyBanc Capital Markets say other steel producers may follow suit. “We expect other steel producers, in Europe and globally, could more aggressively curb supply as global finished carbon sheet steel pricing falls below marginal production cost,” said analyst Phil Gibbs in a note to clients.
ArcelorMittal Steel production in Europe totaled 45 million metric tons in 2018. KeyBanc expects that production for 2019 could fall to the low to mid single digits.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.

Steel Summit: Burritt says USS and Nippon are fast-tracking modern steelmaking
U.S. Steel President and CEO David Burritt told audiences at SMU's Steel Summit 2025 that the iconic American steelmaker’s partnership with Nippon Steel is fast-tracking smarter steel production.

Nucor moves to stop HRC price slide with $10/ton hike
Nucor is attempting to halt the decline in hot-rolled coil prices with the announcement of a $10-per-short-ton increase in its weekly consumer spot price on Monday.

Explosion rocks ArcelorMittal’s DR plant in Mexico
ArcelorMittal reported a "strong" explosion at the direct reduction part of its massive Lazaro Cardenas mill in Mexico.

SDI to acquire remaining stake in New Process Steel
Steel Dynamics Inc. (SDI) announced that it has agreed to acquire the remaining 55% equity interest in New Process Steel.