Arcelormittal To Temporarily Reduce Annualised European Primary Steelmaking Production By Three Million Tonnes
06 Mayo 2019 - 2:25AM
Noticias Dow Jones
TIDMMT
Regrettable decision necessary due to combination of weakening demand,
rising imports coupled with insufficient EU trade protection, high
energy costs and rising carbon costs
6 May 2019, 08:55 CET
ArcelorMittal today announces its intention to temporarily idle
production at its steelmaking facilities in Kraków, Poland and
reduce production in Asturias, Spain. In addition, the planned increase
of shipments at ArcelorMittal Italia to a six million tonne annual
run-rate will be slowed down following a decision to optimise cost and
quality over volume in this environment.
Together, these actions will result in a temporary annualised production
reduction of around three million tonnes.
Commenting, Geert van Poelvoorde, CEO, ArcelorMittal Europe -- Flat
Products, said:
"The difficult decision to temporarily reduce our European primary flat
steel production has not been taken lightly. We understand the impact
this has on employees and the local communities and will be working to
ensure social measures are in place to support them during this period.
"These actions reflect the weak demand environment in Europe today, a
situation further compounded by increased imports despite the safeguard
measures introduced by the European Commission. High energy costs and
increasing carbon costs are adding to the tough environment.
"We are engaging with stakeholders to request that the safeguards are
strengthened to prevent a further increase in imports as a result of
continued global overcapacity and a weakening economy in neighbouring
countries including Turkey. We will also continue to make our case for a
green border adjustment to be introduced to ensure that imports into
Europe face the same carbon costs as producers in Europe. The steel
industry in Europe can have a strong future but there must be a level
playing field to ensure that an unfair advantage is not given to
competitors outside the region."
In Kraków, the primary production (blast furnace and steel plant)
will be temporarily idled. The Polish steel market has been particularly
hard hit, due to a near fourfold year-on-year increase in Russian steel
imports in 2018, and among the highest electricity prices in Europe.
In Asturias, primary production will be reduced. Electricity costs are
also very high in Spain, and the southern European market has been hit
by an unprecedented rise in imports from outside the EU.
Despite the introduction of the permanent EU safeguard tariffs in
February 2019 there has been a continued and consistent rise in flat
steel imports into Europe. Flat steel imports into Europe are currently
at record highs, with imports of hot rolled coil up 37 per cent this
year from 2017, on an annualised basis. In addition, the price of carbon
has risen by approximately 230 per cent since the start of 2018, placing
further competitive pressure on European steelmakers. In the EU
Emissions Trading System (ETS), only steel produced in Europe is subject
to a carbon levy. ArcelorMittal has previously called for the
introduction of a green border adjustment whereby steel imported into
Europe has the same standards applied on CO(2) as European produced
steel under the ETS.
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel and mining company, with a
presence in 60 countries and an industrial footprint in 19 countries.
Guided by a philosophy to produce safe, sustainable steel, we are the
leading supplier of quality steel in the major global steel markets
including automotive, construction, household appliances and packaging,
with world-class research and development and outstanding distribution
networks.
Through our core values of sustainability, quality and leadership, we
operate responsibly with respect to the health, safety and wellbeing of
our employees, contractors and the communities in which we operate.
For us, steel is the fabric of life, as it is at the heart of the modern
world from railways to cars and washing machines. We are actively
researching and producing steel-based technologies and solutions that
make many of the products and components people use in their everyday
lives more energy efficient.
We are one of the world's five largest producers of iron ore and
metallurgical coal. With a geographically diversified portfolio of iron
ore and coal assets, we are strategically positioned to serve our
network of steel plants and the external global market. While our steel
operations are important customers, our supply to the external market is
increasing as we grow.
In 2018, ArcelorMittal had revenues of $76.0 billion and crude steel
production of 92.5 million metric tonnes, while own iron ore production
reached 58.5 million metric tonnes.
ArcelorMittal is listed on the stock exchanges of New York (MT),
Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock
exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal please visit:
http://corporate.arcelormittal.com/
Contact information ArcelorMittal
Investor Relations
Europe +44 20 7543 1156
Americas +1 312 899 3985
Retail +44 20 7543 1156
SRI +44 20 7543 1156
Bonds/Credit +33 171 921 026
Contact information ArcelorMittal
Corporate Communications
mailto:press@arcelormittal.com
E-mail: press@arcelormittal.com
--------------------------------
Phone: +4420 7629 7988
ArcelorMittal Corporate Communications
Paul Weigh
ArcelorMittal Europe Communications +44 20 3214 2419
Sophie Evans +44 7825 595849
(END) Dow Jones Newswires
May 06, 2019 03:10 ET (07:10 GMT)
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