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Leading steelmaker ArcelorMittal is going to idle blast furnace three at its Bremen site in Germany from the end of September indefinitely, due to unsustainable energy costs in Europe. The furnace can produce 1.2mn t/yr of pig iron.
The producer will also stop a direct reduction plant in Hamburg, where it produces wire rod, from the fourth quarter.
"Short-time work is already in place in both plants, which must be expanded as a result of the upcoming measures," the producer said.
ArcelorMittal yesterday announced that it is also shutting down a furnace in Asturias, Spain.
"The high cost of gas and electricity are a heavy burden on our competitiveness. In addition, from October there will be the gas levy planned by the federal government, which will continue to burden us," ArcelorMittal Germany CEO Reiner Blaschek said.
"As an energy-intensive industry, we are extremely affected. With gas and electricity prices increasing tenfold within just a few months, we are no longer competitive in a market that is 25pc supplied by imports," he added.
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