ArcelorMittal - Latest news GMK Center

The company is counting on an agreement that will allow the company to idle any of its plants in Spain for any period until the end of 2023

In early September 2022, the company raised product prices, but the determination quickly weakened due to low demand

The companies intend to increase the capacity of the San Luis Norte complex by 36 MW

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