Author: 22 Mar 2012 Last updated at 08:41:25 GMT

ArcelorMittal to close Europe's steel plant on falling demand for steel

LONDON (Scrap Monster): ArcelorMittal, the world's largest steelmaker, said that it will close indefinitely the steel plant at Schifflange, Luxembourg, amid falling demand for steel in Europe.

“Due to the weak construction market in Western Europe and the lack of any sign of recovery, ArcelorMittal proposes to extend the shutdown of electric arc furnace and continuous production in Schifflange indefinitely,” the company said.

The company, which employs over 310,000 people in 60 countries, claimed the same reasons in January to suspend production at its plant in Madrid.

The deterioration of the construction market in Europe and fall in steel demand by 20% in this sector from 2007 caused the company to shut down the plant, which also highlights the significant excess capacity in the market.

The indefinite closure of the company’s plant at Schifflange affects ArcelorMittal’s, 282 of the 626 employees.

METAL PRICE CHARTS

GET PRICE CHARTS

9ct Gold Scrap Price Charts

18ct Gold Scrap Price Charts

22ct Gold Scrap Price Charts

RELATED NEWS

Japanese H2 scrap average prices drop further during Jan 3rd week

January 23rd 2015 07:41 AM
Japanese H2 scrap average prices drop further during Jan 3rd week
The average price of Japanese H2 scrap declined further during the third week of January this year

Kansas' new bill proposes jail term for scrap metal thefts

January 22nd 2015 07:29 AM
Kansas' new bill proposes jail term for scrap metal thefts
The State of Kansas conducted hearing on a bill that proposes tough punishments for scrap metal theft

Scrap imports by Vietnam edged higher by 4% in 2014

January 22nd 2015 02:18 AM
 Scrap imports by Vietnam edged higher by 4% in 2014
The most recently released trade data indicates that scrap imports by Vietnam during the entire year 2014 increased

India's scrap imports surged in Oct '14

January 22nd 2015 01:54 AM
India's scrap imports surged in Oct '14
The scrap imports by India during the month of October last year increased considerably when compared with the previous month
Scrap Item Price Unit
6063 Extrusions 0.80 $US / Lb
Zorba 90% NF 0.70 $US / Lb
6061 Extrusions 0.78 $US / Lb
Old Sheet 0.68 $US / Lb
Al/Cu Radiators 1.56 $US / Lb
Old Cast 0.69 $US / Lb
Next Story