ArcelorMittal European Media Day

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"With the right legislative framework, the steel industry in Europe can continue to prosper and support European goals in areas such as the circular economy and even climate change" - ArcelorMittal Europe Flat Products CEO Geert Van Poelvoorde addresses ArcelorMittal's annual media day

Paris, 7 December 2016

New steel industry dynamics as a result of production overcapacity in China's steel industry, and the need to ensure steel can play a key role in a world increasingly focussed on sustainability and a more circular economy, are driving important change and innovation within ArcelorMittal Europe.

These were the two main themes addressed at ArcelorMittal's annual media day for European journalists, with a number of senior executives at the world's leading steel and mining company speaking at the event in Paris. 

The speakers gave their perspectives on what the two themes covered mean for ArcelorMittal's European operations, for research and development at ArcelorMittal, and for greater environmental sustainability both at ArcelorMittal and across the steel industry. 

The issue of China's steelmaking overcapacity has deeply affected the profitability of the steel industry in recent years and put the issue of fair trade high on the political agenda.

David Clarke, ArcelorMittal's head of strategy and chief technology officer, put the issue into a European perspective: 

"In 2009, China exported two million tonnes of finished steel to Europe; in 2015 this rose to nine million tonnes. Europe is roughly a 150 million tonne market - still around 25% below pre-financial crisis levels - and apparent steel consumption is currently growing at around 1% a year. So in effect, we are seeing the demand increase in Europe being swallowed up by increased levels of imports, with European steelmakers struggling to benefit from the mild increases in demand".

Speaking about the company's response to the tough operating environment, Mr Clarke said:

"We have focussed very hard this year on matters that we can control, strengthening our balance sheet and outlining a new five-year strategic plan that will ensure we can prosper and deliver sustainable profitability in any market environment. We are making good progress which has been reflected in the company's improved results across the year but until the issue of overcapacity in China is fixed we have to be very focussed on improving the competitiveness of our business and being active when it comes to unfair trade. "