Europe’s largest steel group shuts down two plants in northern Germany due to high energy prices

ArcelorMittal, Europe’s largest steel producer, has closed two production plants in northern Germany due to a sharp rise in energy prices.

And the group announced today, Friday, that “from the end of this September, the group will close one of the melting furnaces at its flat steel site in Bremen until further notice.”

“At the Hamburg Long Steel Plant, where the group produces high-quality wire rods, the direct reduction plant will also be closed from the fourth quarter of this year due to the current situation and negative earnings outlook,” it added.