Friday, October 24, 2008

Further steel cutbacks by Arcelor?

ArcelorMittal, the world's largest steel maker, said on Thursday it will shut down its blast furnace number six at Seraing in Belgium until at least the end of February, Belgian media reported.

Public broadcaster RTBF said the move, which comes only eight months after the furnace was reopened, was due to the financial crisis and a decrease in demand for steel. A spokesman for ArcelorMittal in London said he was unable to comment immediately on the report.


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