Evraz Vitkovice to temporarily shutdown mill amid weak demand
PRAGUE. Dec 23 (Interfax) - Evraz Vitkovice Steel will temporarily shut down its heavy section mill (HSM) at the end of January due to insufficient demand, the steelmaker said.
The mill, which makes sheet pilings and beams, accounts for about 10% of the plant's rolling mill capacity - 120,000 tonnes; it employs 200 people. After filling already contracted orders in January 2012, the mill will shut down due to the unfavorable short- and medium-term situation on the market for such products.
The European steel market is in an extended slump, particularly in the segment for long construction products, which has had a negative impact on long-term sales, the company said.
The company said it plans to closely follow the situation on the market to make further strategic decisions concerning the mill.