World’s Second-Largest Steelmaker Closes European Plant

World’s Second-Largest Steelmaker Closes European Plant

World’s Second-Largest Steelmaker Closes European Plant

The world’s second-largest steelmaker, ArcelorMittal, is the latest industrial company to announce a plant closure in Europe due to soaring gas and energy prices.  ArcelorMittal will shut one of its two blast furnaces at its steelworks site in Bremen, Germany, from the end of September until further notice, due to the “exorbitant rise in energy prices,” the company said in a statement on Friday.  The high energy prices are undermining the competitiveness of steel production and the company is taking this step in Germany…