Pursuits
ArcelorMittal Needing Output Cuts as Costs Soar, Demand Slides
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ArcelorMittal and competitors in Europe will probably curb steel production to support prices as they struggle to pass on higher raw-material costs, just as a regional debt crisis and rollbacks in state spending cut demand.
“You’ll see some blast-furnace stoppages,” said Gordon Moffat, director general of Eurofer, representing steelmakers in Europe including ArcelorMittal, the world’s biggest. “It looks like they’re responding to a weakening of the market.”