Reuters reported that ThyssenKrupp's steel production was down by about a fifth compared with the beginning of this year due to weaker demand but Germany's biggest steelmaker has no plans to idle any blast furnace, a spokesman for the company said.
A company spokesman when asked whether lower steel prices and weaker demand would force the company to follow steps undertaken by ArcelorMittal said that “We are not idling any blast furnace.”
He said “We are working at about 80% of our production capacity now, compared with 100% in January this year.”
ArcelorMittal, the world's largest steelmaker has permanently idled two blast furnaces at its plant in Liege, Belgium, and has temporarily idled a number of blast and electric arc furnaces throughout Europe, in order to adapt production to lower demand.
ThyssenKrupp is Europe's fourth largest steel producer in Europe in terms of capacity as it can produce up to 14.7 million tonnes of steel every year.
Sourced from Reuters
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