Some European mills limit production capacity, tightening market supply
Time:Wed, 19 Apr 2023 09:19:05 +0800
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Affected by the inflation of the last six months of 2022 and the rising energy price, European mills tried to reduce inventories by adopting methods such as suspending their production.
As is known, last December, Europe's steel output declined by at least 14 to 15 million tons due to voluntary production reduction by mills. However, since the market demand doesn't actually shrink, it seems that more steel supplies may be urgently required at the moment.
At the same time, factors such as the fire in the mill Gijon of ArcelorMittal Spain, the inspection and maintenance of various European mills, and the closure or reformation of blast furnaces also play a role in the decreasing market supply.
