ArcelorMittal Closes Two Blast Furnaces in Europe

Meantime, unofficial reports indicate that the company is planning to shut down one furnace in Germany as well.

SEATTLE (Scrap Monster): Luxembourg-based leading steelmaker ArcelorMittal announced its decision to close two blast furnaces in France.

The company noted that one out of the three blast furnaces at Dunkirk plant will be closed. Also, one of the blast furnaces, a convertor and continuous caster at its Fos-sur-Mer plant will be closed. The decision is mainly on account of significant drop in demand from various industries including automotive sector. Meantime, unofficial reports indicate that the company is planning to shut down one furnace in Germany as well.

ALSO READ: ArcelorMittal 2019 Annual Report Surveys Global Steel Market

In a separate statement, the company hinted at reducing productions in several countries in the European region, where it operates. These measures are taken in order to ensure the wellbeing of its employees, considering the extent of the virus outbreak and the health and safety implications caused by it. Further, it assured that the evolution of the virus will be constantly monitored and that decisions will be taken accordingly.

Additionally, ArcelorMittal has stopped Asturias blast furnace in Spain and blast furnace number two at Taranto in Italy and has also declared force majeure on raw materials supplied to its European steel mill facilities. The Australian and the U.S. coal mining companies have already received the notice from the company, sources said.

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