Romanian Steel Industry Feels the Pinch of Economic Slowdown

Oilprice.com12-21 04:00

Via Metal Miner Difficult market conditions have prompted Romanian steel industry leader ArcelorMittal Hunedoara to reduce production until year’s end. According to a notice provided to the Bucharest ...

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According to a notice provided to the Bucharest ...</p>\n\n<a href=\"https://finance.yahoo.com/news/romanian-steel-industry-feels-pinch-200000310.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Romanian Steel Industry Feels the Pinch of Economic Slowdown</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRomanian Steel Industry Feels the Pinch of Economic Slowdown\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-21 04:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/romanian-steel-industry-feels-pinch-200000310.html><strong>Oilprice.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Via Metal Miner\nDifficult market conditions have prompted Romanian steel industry leader ArcelorMittal Hunedoara to reduce production until year’s end. According to a notice provided to the Bucharest ...</p>\n\n<a href=\"https://finance.yahoo.com/news/romanian-steel-industry-feels-pinch-200000310.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4006","symbol_name":"钢铁","start_time":0,"source_url":"https://finance.yahoo.com/news/romanian-steel-industry-feels-pinch-200000310.html","article_id":"2493471612","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2493471612","pubTimestamp":1734724800,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Difficult market conditions have prompted Romanian steel industry leader ArcelorMittal Hunedoara to reduce production until year’s end. According to a notice provided to the Bucharest Stock Exchange, the longs producer’s board of directors decided to reduce production from December 9-31 and pay 75% of salaries to employees impacted by the steps.The December 6 notice also cited the “economic difficulties faced by the company due to the lack of orders and implicitly of the production volume, as well as a measure to protect employees.” It was not immediately clear where or by how much the company would cut production, or at what percentage of capacity the plant is now operating.ArcelorMittal’s predecessor company, Mittal Steel, acquired Hunedoara in late 2003. The plant has one electric arc furnace with an annual crude steel capacity of 800,000 metric tons, which it casts into 220×220 square billets on a two-strand continuous caster.Iran’s Floating Oil Storage Jumps Amid Tighter Sanctions","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4006":"钢铁","BK4561":"索罗斯持仓","MT":"安赛乐米塔尔"},"translate_title":"罗马尼亚钢铁业感受到经济放缓的压力","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MT":0.9},"content_text":"Via Metal Miner\nDifficult market conditions have prompted Romanian steel industry leader ArcelorMittal Hunedoara to reduce production until year’s end. According to a notice provided to the Bucharest Stock Exchange, the longs producer’s board of directors decided to reduce production from December 9-31 and pay 75% of salaries to employees impacted by the steps.\nThe December 6 notice also cited the “economic difficulties faced by the company due to the lack of orders and implicitly of the production volume, as well as a measure to protect employees.” It was not immediately clear where or by how much the company would cut production, or at what percentage of capacity the plant is now operating.\nA Significant Contributor to the Steel Industry\nArcelorMittal’s predecessor company, Mittal Steel, acquired Hunedoara in late 2003. The plant has one electric arc furnace with an annual crude steel capacity of 800,000 metric tons, which it casts into 220×220 square billets on a two-strand continuous caster.\nFurther downstream, the plant rolls merchant bar in square, round and flat shapes for the construction and machinery sectors. The plant is in central Romania’s historical Transylvania region, about 300 kilometers east of the Hungarian border. \nPredictions Mount as Romania Enters 2025\nDutch multinational banking group also downgraded Romania’s GDP outlook for 2024 to 1% from 1.3% in late November / early December. The group partly cited the political climate in the region as a result of the East European state‘s parliamentary elections.\nThat election took place on December 1 and saw far-right parties make significant gains at the expense of the coalition government, which consisted of the Social Democratic Party and the National Liberal Party.\nMeanwhile, Presidential elections on November 24 saw right-wing candidate C?lin Georgescu gain a significant amount of votes against incumbent Klaus Iohannis, though the Romanian Constitutional Court annulled that round on the grounds of alleged Russian interference.\nHowever, the ING report sounded a positive note about 2025. “Despite the uncertainty brought by the ongoing electoral context, we still anticipate GDP growth to accelerate to 2.6% next year,” ING also stated in its December 2 report.\nBy Christopher Rivituso\nMore Top Reads From Oilprice.com\n\nIsrael Strikes Yemen Energy Targets in Latest Middle East Flare-Up\nIran’s Floating Oil Storage Jumps Amid Tighter Sanctions\nBearish Sentiment Takes Hold in Oil Markets\n\nRead this article on OilPrice.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2493471612"}