ArcelorMittal - Latest news GMK Center

The company expects to reduce production at its European facilities in the fourth quarter of 2022 by 1.5 million tons per year

The plant has enough orders to continue its activities, the CEO of ArcelorMittal Luxembourg claims

The company explains this step by the drop in demand for steel and the increase in the energy costs

The partial shutdown of the corporation's blast furnaces in Europe will not hinder the expansion of production at its Chinese VAMA plant

Most of the funds are intended to be used to modernize ArcelorMittal Temirtau production

Two other BFs were stopped earlier due to rising energy costs

The company also announced the shutdown of the wire rod production plant in Hamburg

The capacity of the Spanish plant will be reduced due to weak demand for products

According to the head of the company, it is unprofitable to export steel by land to Europe

The company decided not to resume the plant's operation after summer maintenance

Most of the staff will work with a reduction in workload and pay

The parties agreed on the joint construction of an LNG terminal with a capacity of 4 million tons per year