Arcelor for its factory in Asturias due to the increase in costs

The multinational ArcelorMittal announced yesterday the temporary shutdown of Blast Furnace A at its factory in Asturias at the end of September due to the “very adverse situation” of the steel market in Europe, taking into account “the forecasts for the coming months”.

NewsEditor
NewsEditor
01 September 2022 Thursday 18:42
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Arcelor for its factory in Asturias due to the increase in costs

The multinational ArcelorMittal announced yesterday the temporary shutdown of Blast Furnace A at its factory in Asturias at the end of September due to the “very adverse situation” of the steel market in Europe, taking into account “the forecasts for the coming months”. ArcelorMittal had already announced yesterday that the Sestao plant (ACB) would not resume its activity for the time being after the summer holidays.

“The decision is taken at a time of economic uncertainty in which the confidence of steel consumers has decreased; This situation is compounded by the high imports from non-EU producers that are not affected by the growing costs derived from the European system for assigning CO emission rights, impacting the competitive position of European manufacturers”, he adds.

For its part, the Principality hopes "that working conditions are negotiated and agreed between the parties", while insisting on the need for "the urgent application of the environmental tariff or other border adjustment mechanism by the EU, to that the European steel industry does not compete at a disadvantage compared to the production of other countries that are not committed to the fight against climate change”.

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