steel suppliers

LUXEMBOURG (Reuters) – The world’s largest steel producer ArcelorMittal takes account of subdued demand for steel, three blast furnaces in Europe from the network. In addition to Romania and France was also a blast furnace in iron and steel city shut down temporarily, said a company spokesman the “Handelsblatt” (Tuesday edition). It is the smaller of the two blast furnaces with an annual capacity of 500,000 tonnes. The affected employees will be short-time allowance requested. “This will affect more than 65 jobs,” said a company spokesman to the news agency dpa. Overall, ArcelorMittal has approximately 2,400 employees at the site.

With the closure of the company’s response to the recent decline in orders. In the third quarter slowed the steel maker has its production by 78 percent to 71 percent. The surplus fell from July to September compared to the previous quarter to just over 20 percent to 1.35 billion dollars. Sales fell slightly to 21 billion dollars (minus 2.8 percent).

In the fourth quarter, the order situation has worsened the industry, as customers want to avoid high inventory levels at year end. The resulting steel overhang in the market drives down prices. Industry experts expect the demand will be subdued in the first quarter of next year