ArcelorMittal

The company will stop production of pipe products in the first quarter of 2024

The investor and the value of the contract will be named after all documents are signed

During January-November, the company limited production in Belgium, Germany, Poland, France and Bosnia

This decision is due to two factors: low demand for coke and high coking coal prices

Downtime at enterprises will last until December 2023

The company suspended the blast furnace at the plant in Zenica (Bosnia and Herzegovina) and the wire rod production plant in Sosnowiec (Poland)

This is a step towards full commissioning of the Steelanol plant

The largest amount went to the modernization of the blast furnace in Dombrov-Gurnych

During this period, steel shipments decreased by 7.8% y/y

The company estimated its assets in the country at $1.8 billion

In January-September 2023, the company's revenue decreased by 14.7%

Iron ore production fell by 7.5% y/y in 9 months