IRON and STEEL   Auto  

ArcelorMittal Spain cuts output

ArcelorMittal Spain is to cut flat steel output in the near term because of reduced automotive demand.

"Many of our customers, especially in the automotive sector, are already stopping their activity due to the impact of the coronavirus, and therefore we need to adapt our production to that situation," the company said

After discussions with unions, the firm is to reduce production at its Asturias, Sagunto and Sestao plants. The blast furnace at Asturias and facilities in Sestao will halt in the coming days, while the Aviles steel shop will work at half capacity. Galvanising lines at Asturias and Sagunto will be suspended.

Seat, Nissan, Volkswagen, Ford, Renault and many other carmakers have ceased activity in recent weeks amid the continued spread of the virus.

Long product producers are less affected significantly, but likely to follow suit as the situation is not expected to improve soon. "We do not expect any production cuts until the circumstances change," a leading long producer said.

Market participants said another long product steelmaker is planning to reduce output. "Catalan politicians are talking about stopping all activities in the country. That is not supported yet, but it may change at any moment", a Spanish trader said.

ArcelorMittal Spain produced 5.4mn t of steel in 2019.

News No: 8779
Date: 2020/03/19 - 19:23
News Source: Argus Media

ArcelorMittal  Spain  steel  Market  Volkswagen 


Leave a Comment:


Market Nuggets RBC's Gero: Comex gold drawing safe-haven bid

Gold is higher on a morning when the market is again drawing safe-haven buyers, said George Gero, managing director with RBC Wealth Management. He pointed out that holdings of the metal by exchange-traded funds have been rising lately.

Mongolia resumes China coal exports

Mongolia has gradually resumed coal exports to China through four border points from earlier this week, after two delayed restarts since exports halted in early February.

Spain exempts large power consumers from total lockdown

Spain has exempted much of its metals, chemicals, cement and other large power-consuming industries from the halt in non-essential economic activity decreed in the country from 30 March, although they will still have to cut output.

Australia: FMG Narrows Discount on Low Grade Iron Ore Fines for Mar'20

Fortescue Metals Group - world's 4th largest iron ore producer has decreased discount on low-grade ore for Mar' 20. SteelMint has learned from the market participants that FMG has lowered discount of SSF low-grade fines (Fe 56.7%) from 18% in Feb’20 to 16% for Mar'20 deliveries.

India: SAIL Auction for Defective Billet and Blooms Receives Improved Response

Steel Authority of India Limited (SAIL) conducted an auction from its central India based Bhilai Steel Plant (BSP) for defective steel products on 20 Feb’20. The auction fetched better response in terms of allotted quantity against the last auction conducted on 12 Feb’20. Bids remained similar to previous auction.

SE Asia: Billet Import Prices Remain Range Bound

This week, SE Asia billet import market was reported with mixed sentiments, as China’s billet offerings has disturbed the sentiments in the region. Amid corona virus outbreak in China, the domestic billet prices of country have dropped down by RMB 300 (~ USD 45) which is at 3-year low levels; RMB 3000/MT including VAT. The event was the result of increased finished steel inventories which have reached to the 5 years high levels due to pandemic.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners