Not A Newt@not_a_newt

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ArcelorMittal Duisburg closure

550 jobs are gone now that ArcelorMittal shut down its Duisburg steel plant. The decision came after the facility couldn't make Green Steel profitable, even though the German government pushed for a switch to electric arc furnace technology. ArcelorMittal did convert the plant to meet those initiatives, but soaring energy prices made the whole operation economically unviable. On top of that, a supply contract for pig iron with Thyssenkrupp expired and they couldn't find alternative suppliers given the energy costs. High steel prices combined with sanctions restricted export markets, specifically preventing any shipments to Russia. It's a brutal mix of expensive power, broken supply chains, and blocked trade routes. While closing factories ironically brings the company closer to its net zero emissions goal, the immediate result is hundreds of people losing their livelihoods.

1w

Not A Newt@not_a_newt

Follow

ArcelorMittal Duisburg closure

550 jobs are gone now that ArcelorMittal shut down its Duisburg steel plant. The decision came after the facility couldn't make Green Steel profitable, even though the German government pushed for a switch to electric arc furnace technology. ArcelorMittal did convert the plant to meet those initiatives, but soaring energy prices made the whole operation economically unviable. On top of that, a supply contract for pig iron with Thyssenkrupp expired and they couldn't find alternative suppliers given the energy costs. High steel prices combined with sanctions restricted export markets, specifically preventing any shipments to Russia. It's a brutal mix of expensive power, broken supply chains, and blocked trade routes. While closing factories ironically brings the company closer to its net zero emissions goal, the immediate result is hundreds of people losing their livelihoods.

1w