European stainless steel mills to cut or stop production on soaring energy costs
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Update time : 2022-09-01 17:54:38
Major stainless steel plants in Europe, including Spain and Italy, are affected by a lack of energy and weakened demand. Therefore, they are not in a hurry to start production after the summer vacation. Some steel plants even temporarily suspended production.
Spanish group Acerinox announced it will cut production and put 85% of its workforce back on reduced time for at least 15 days. Italian steel mill Acciai Speciali Terni also urgently held a crisis meeting to discuss production cuts or closures.
As a result, European stainless steel plants are reducing or completely shutting down production, affecting millions of production capacities.
