MT - ArcelorMittal to idle blast furnace at Asturias plant in Spain

ArcelorMittal ( NYSE: MT ) said Thursday that weak demand has caused it to idle one of two blast furnaces at its Asturias plant in Spain, Argus reports .

The unit will be taken down at the end of September in response to economic uncertainty and weakening confidence levels among steel consumers, the company said.

ArcelorMittal ( MT ) also has not restarted the electric arc furnace at its Sestao mill, according to Argus.

Separately, ArcelorMittal ( MT ), Brookfield and Canada Pension Plan Investment Board reportedly are among at least a dozen entities that are considering buying a stake in India's NTPC Green Energy.

ArcelorMittal ( MT ) offers "a strong balance sheet [that] allows for opportunistic M&A," The Investment Doctor writes in a bullish analysis posted on Seeking Alpha .

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