Wednesday, June 20, 2012

Arcelor Mittal considering cutting more capacity

Chief Executive Lakshmi Mittal is considering cutting steelmaking capacity in the face of low demand and falling steel prices within Europe.

In an interview with Reuters he said "Demand (in Europe) was 200 million tonnes. Now it's 150 million. Clearly there is a need of some capacity adjustments. ArcelorMittal is looking at it,"

Full story at Reuters

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