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

22ct Gold Scrap Price Charts

14ct Gold Scrap Price Charts

Silver Scrap Price Charts

RELATED NEWS

German scrap prices rise further in May: BDSV

May 28th 2015 02:04 AM
German scrap prices rise further in May: BDSV
As per the latest statistics provided by the German Steel Recycling Federation (BDSV)

India's scrap imports surged during Jan-Feb 2015

May 27th 2015 08:37 AM
India's scrap imports surged during Jan-Feb 2015
The scrap imports by India during the initial two months of the year increased sharply when compared with

Tokyo steel's H2 scrap purchasing prices up

May 27th 2015 02:56 AM
Tokyo steel's H2 scrap purchasing prices up
The country's top producer of H-beams- Tokyo Steel has announced further hike of ¥ 500/ton in scrap purchasing prices

BIR Convention predicts modest rally in stainless steel scrap prices

May 26th 2015 06:44 AM
BIR Convention predicts modest rally in stainless steel scrap prices
The delegates at the 2015 BIR Convention held in Dubai, UAE indicate that stainless steel scrap prices are unlikely to…
Scrap Item Price Unit
6063 Extrusions 0.77 $US / Lb
Zorba 90% NF 0.61 $US / Lb
6061 Extrusions 0.70 $US / Lb
Old Sheet 0.54 $US / Lb
Al/Cu Radiators 1.31 $US / Lb
Old Cast 0.54 $US / Lb
Next Story