Steel Market Production Cuts – ArcelorMittal no longer intends to restart production on the two idled blast furnaces at its steelworks in Florange, France this year citing weak market conditions and what is generally a seasonally weaker 4th quarter.
Steel Market Production Cuts – Turkish long steel producers have begun cutting back production in the face of lower prices with three producers having already begun cutting back production by 20% and others reportedly considering cuts.
Steel Market Production Cuts – Chinese producers Tangshan and Shougang reportedly have plans to do routine maintenance at their hot strip mills in June with an expected total loss of 40-50,000 tonnes of HRC production at each of the mills.
Steel Market Production Cuts – Latin American steel producer Ternium has had construction on its new slab mill in Açu Port stopped by Brazilian public prosecuters who allege irregularities in the mill’s licensing process.
Sources: Steel Business Briefing, American Metal Market
