At the beginning of September, ArcelorMittal Germany announced that it would temporarily shut down parts of the production facilities at German locations due to weak demand, negative market prospects and extremely high energy costs. ArcelorMittal Germany said “Normally the reduced quantities would be produced by a blast furnace, but against the background of the current energy crisis, the company will now adjust the utilization of its production facilities in order to maximize its own power generation. Therefore, the announced shutdown of one blast furnace will be postponed for the time being. Instead, the reduced production is planned with both blast furnaces, which makes more own power generation possible.” ArcelorMittal Germany CEO Mr Reiner Blaschek said “As an energy-intensive company, we are dependent on our own power supply. With the decision to run both blast furnaces at a low production level, we are more independent and cheaper with our own power supply. This is an advantage in what is currently a very volatile and difficult market.” ArcelorMittal added “ArcelorMittal is committed to a European industrial electricity price to enable fair competitive conditions. A first step must be to adjust the design of the electricity market so that the price of natural gas is not the only decisive factor in determining electricity prices. These measures must be promoted with the highest priority in order to improve the situation as quickly as possible.”
At the beginning of September, ArcelorMittal Germany announced that it would temporarily shut down parts of the production facilities at German locations due to weak demand, negative market prospects and extremely high energy costs. ArcelorMittal Germany said “Normally the reduced quantities would be produced by a blast furnace, but against the background of the current energy crisis, the company will now adjust the utilization of its production facilities in order to maximize its own power generation. Therefore, the announced shutdown of one blast furnace will be postponed for the time being. Instead, the reduced production is planned with both blast furnaces, which makes more own power generation possible.” ArcelorMittal Germany CEO Mr Reiner Blaschek said “As an energy-intensive company, we are dependent on our own power supply. With the decision to run both blast furnaces at a low production level, we are more independent and cheaper with our own power supply. This is an advantage in what is currently a very volatile and difficult market.” ArcelorMittal added “ArcelorMittal is committed to a European industrial electricity price to enable fair competitive conditions. A first step must be to adjust the design of the electricity market so that the price of natural gas is not the only decisive factor in determining electricity prices. These measures must be promoted with the highest priority in order to improve the situation as quickly as possible.”
