ArcelorMittal (MT)’s Kazakh unit said second-quarter production was “worse than expected” after an accident at a sintering plant in May.
Rolled-steel output fell 15 percent to 712,900 metric tons from 839,700 tons a year earlier, the AO ArcelorMittal Temirtau unit, said today in an e-mailed statement. That was less than the 715,600 tons produced in the first quarter.
The company cut liquid-steel output 21 percent to 769,200 tons in the second quarter from a year earlier, according to the statement. The company produced 811,800 tons in the first three months of the year.
“The second quarter results were worse than we expected,”Vijay Mahadevan, general director at ArcelorMittal Temirtau, said in the statement. “Production was restricted by the accident at the sintering plant in May, as well as unstable operations of a number of the metal company’s units.”
Article sourced from Bloomberg Businessweek