ArcelorMittal To Close Two Blast Furnace’s In Europe Over High Energy Prices and Lower Demand.
Here is an article in the Hurriyet Daily News about Arcelor closing two blast furnaces over high energy costs and low demand.
“The high cost of gas and electricity are weighing heavily on our competitivity,” said ArcelorMittal’s CEO for Germany Reiner Blaschek.
It also mentioned the slowdown in the automobile industry, usually a huge steel buyer.
Energy prices have shot up in Europe since Russia invaded Ukraine in February.
At the end of last year, ArcelorMittal had 16 blast furnaces in Europe.
