Acerinox, ArcelorMittal, Celsa cut steel output in Spain due to high electricity prices

MADRID, March 10 (Reuters) - Three of the main Spanish steel makers have cut output at their electricity-powered mills as electricity prices skyrocket following the Russia's invasion of Ukraine.

Spanish stainless steel maker Acerinox MC>, world's largest steelmaker ArcelorMittal (MT.LU) and Celsa, a privately held leading European producer, have partly idled their plants to reduce costs as electricity prices on the wholesale market in Spain hit all-time highs earlier this week, the three companies said on Wednesday and Thursday.