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ArcelorMittal cuts EU production by 3 million tonnes

Stop production in Poland, cuts in Spain - On Italy the company assures: "Our goals do not change", but the expected increase in production will slow down

ArcelorMittal cuts EU production by 3 million tonnes

3 million tonnes less steel produced in Europe. This was announced this morning, 6 May, by ArcelorMittal, the giant that took over the former Ilva.

The company explained that the production of the steel plants in Krakow, Poland will be suspended, while in Asturias (Spain) production will be reduced.

The company, through a note, explained that it is a "suffering but necessary decision, due to the combination of the weakening of demand, the increase in imports, associated with insufficient EU trade protection, high energy costs and the rising cost of CO2”.

The news has aroused much concern in our country, even if, when asked by Ansa, ArcelorMittal let it be known that "the announcement made today does not change anything in ArcelorMittal Italia's long-term strategy: it is a temporary adaptation to current market trends”. “Environment and Health and Safety – continued the company – remain our absolute priorities and there will be no impact on the investments envisaged for the environmental and industrial plan. We will continue to work with determination and seriousness to complete all the commitments made".

However, the repercussions on our country will still exist: “expected increase of production level to 6 million tonnes in ArcelorMittal Italy will slow down following the decision to optimize costs and production quality”, continues the note. At a practical level: the production level should reach 5 million tons instead of the 6 previously foreseen.

“The difficult decision to temporarily reduce our European production of flat products was not taken lightly – says the CEO of ArcelorMittal Europe Flat Products, Geert van Poelvoorde – We understand the impact this choice has on employees and local communities. We will work to ensure social measures are in place to support them during this time."

“We are collaborating with the interested parties – continues the CEO – to ask that the safeguards be strengthened with the aim of prevent a further increase in imports due to continued global overcapacity and a weakening of the economy in countries neighboring the EU, including Turkey.

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