MT - ArcelorMittal to restart Asturias blast furnace idled since September

ArcelorMittal ( NYSE: MT ) said Tuesday its idled Asturias blast furnace in Spain will resume operations next week at a reduced capacity, after the company curtailed the plant in September due to unfavorable market conditions that have since slightly somewhat recovered.

Asturias is one of several European plants where ArcelorMittal ( MT ) either reduced operations or idled last year as high energy prices combined with declining demand and prices for steel on the continent.

The steelmaker said no decision has been made about a tentative restart at its separately idled Sestao plant in Spain.

ArcelorMittal ( MT ) shares are valued at a significant discount compared to U.S. peers, which opens substantial potential upside, InSight Analytics writes in an analysis published recently on Seeking Alpha .

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