ArcelorMittal ( NYSE: MT ) said Tuesday it could renew operations as soon as April at its idled Fos-sur-Mer blast furnace in France as market conditions improve in Europe.
The blast furnace was idled last year when high energy prices, combined with weaker demand and high foreign steel imports, forced the steelmaker to cut production capacity across the continent to meet market conditions.
But European coil prices have recovered since December, with mills extending lead times.
ArcelorMittal ( MT ) said earlier this month that it was gradually restarting its idled European steel operations , including at its idled Asturias blast furnace in Spain .
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ArcelorMittal eyes April restart of idled French blast furnace