Purchasing.com reported that ArcelorMittal has postponed indefinitely the construction of a USD 600 million steel bar mill in Mexico due to current market conditions. It already has idled 2 of 5 reinforcing bar rolling mills and reduce output on a third at its Lázaro Cardenas Las Truchas steel complex in southern Mexico.
Mr Ricardo Guzmán representative of ArcelorMittal said that "The new mill is going to open, but first we must see the market's development. Unfortunately, right now we don't have a date for that."
ArcelorMittal announced the project in August 2008, saying it would develop a new mini mill around an electric arc furnace with capacity to produce 1 million tonnes of steel billet annually and integrate it into a new rolling mill with capacity of 500,000 tonnes per tonne for various bar products.
(Sourced from www.purchasing.com)
