By Pierre Bertrand

ArcelorMittal could soon renew operations at its idled Fos-sur-Mer blast furnace in the south of France as market conditions improve in Europe.

"Signs of a recovery in demand in our markets allow us to envisage a return to two blast furnaces - at a minimum capacity - in April," a spokesperson for ArcelorMittal in France said.

The blast furnace was idled last year when high energy prices, combined with falling demand and high foreign steel imports, forced the Luxembourg-based steelmaker to reduce production capacity across the continent to meet market conditions.

ArcelorMittal said earlier this month that it was gradually restarting its idled European steel production capacities. It resumed operations, though at a reduced capacity, at its idled blast furnace in Asturias in northern Spain on Feb 6.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

February 21, 2023 04:38 ET (09:38 GMT)

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