Arcelor Does Not Plan Further Stainless Steel Cuts Sep 22, 2003

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Arcelor, the world's largest steelmaker, said it would not cut its production of stainless steel in the fourth quarter, after reducing output by 100,000 tons in the current period.

"In view of present order books and capacity usage, no signficant stoppage is expected in the fourth quarter," an Arcelor official told Reuters.

Arcelor Chief Executive Officer Guy Dolle told Reuters in late August the situation for flat stainless steel was becoming more difficult because of rising prices for nickel, a basic material for stainless steel, and higher European capacity.

Stainless steel accounts for more than two-thirds of nickel consumption. (Reuters)

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