Reportedly EU ministers and European Commission call on ArcelorMittal to postpone planned capacity cuts until they confirm proposals to revive Europe’s steel sector, Industry Commissioner Antonio Tajani said on Tuesday.
ArcelorMittal was planned to close few production lines in Liege, Belgium, its electric arc furnace in Schifflange, Luxembourg and has idled two furnaces in Florange in France. Mr Tajani’s appeal is coherent with French Industry Minister Arnaud Montebourg and counterparts from Belgium and Luxembourg.
In the background, steel consumption in austerity-hit Europe fell by 9.7% last year, according to Eurofer, the European steel producers' lobby. The demand, including inventory adjustments, is seen down 0.7% this year before a 3.0% up in 2014. Besides, the 146 million tonnes of steel consumed would be 27% below the pre-crisis peak level of 2007.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63032&division=A9
