Arab Steel Summit
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Europe’s largest steel group to shut wo plants in northern Germany as gas prices soar

 ArcelorMittal said on Friday it would switch off one of two furnaces at its steelworks in the German city of Bremen until further notice from September-end, citing the soaring cost of gas, weak market demand and a negative economic outlook.

The world’s second-largest steelmaker said it will also shut down the direct reduction plant at its Hamburg steel factory from the fourth quarter of this year, while keeping workers on shorter hours at both sites.

“The high costs for gas and electricity are putting a heavy strain on our competitiveness. On top of that, from October onwards, there will be the German government’s planned gas levy, which will further burden us,” Reiner Blaschek, chief executive of ArcelorMittal Germany, said in a statement.

“With a tenfold increase in gas and electricity prices, which we had to accept within a few months, we are no longer competitive in a market that is 25% supplied by imports. We see an urgent need for political action to get energy prices under control immediately,” he added.

Russia has cut gas supplies to Europe after invading Ukraine in February, a move that has pushed up prices and threatened recession and energy shortages going into winter.

Along with the chemical, aluminium, paper and cement industries, the steel industry is one of the most energy-intensive sectors.



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لوريم ايبسوم هو نموذج افتراضي يوضع في التصاميم لتعرض على العميل ليتصور طريقه وضع النصوص بالتصاميم سواء كانت تصاميم مطبوعه لوريم ايبسوم ليتصور طريقه لوريم ايبسوم.

About AISU

Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.


92 Members

28 Board of Directors

17 Country

300.000 Employees

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