ArcelorMittal Prolongs Idling of Polish Blast Furnace
December 13 2022 - 11:29AM
Dow Jones News
By Pierre Bertrand
ArcelorMittal Poland said Tuesday that current European market
conditions mean it won't be able to restart one of its idled blast
furnaces before the end of the year.
The Luxembourg-based steelmaker idled its number 3 blast furnace
at its Dabrowa Gornicza plant in early October, citing weakened
European demand for steel, slowing economic activity, high energy
costs and high foreign steel imports.
"From that time we have been closely observing the market, the
forecasts in terms of a possible raise in demand, the long-awaited
improvement of European activity. Unfortunately this isn't yet
happening. And we don't see any signs of market recovery in the
coming weeks," ArcelorMittal said in a statement.
The company was aiming for and hoping to have the furnace
operational by December, a spokesperson said.
ArcelorMittal said it continues to see orders in Poland at
levels below the minimum threshold for two operating blast
furnaces.
It added that it remains prepared to restart the blast furnace,
but that market conditions will determine when that will take
place. It intends to have blast furnace 3 back online by the time
its number 2 blast furnace undergoes repairs in March,
ArcelorMittal said.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
December 13, 2022 11:14 ET (16:14 GMT)
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