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Ref. Ares(2020)3951431 - 27/07/2020
ArcellorMittal, résumé of call 10 June 2020
lundi 15 juin 2020 10:42:07
presented the impact of COVID-19 on the steel industry. The impact is
devastating. As a result of pandemic, the demand has collapsed by more than half.
Automotive sector was on halt, but also slowdown in building sector. Even bigger drop in
the South of Europe. Importance of the swift agreement on the recovery package cannot
be stressed enough. Need to stimulate the demand now. Impossible to wait till the next
year. Nevertheless, ArcelorMittal stands by its CO2 reduction targets (minus 30% by
2030) and will soon release a roadmap to reaching them. However, the EU has to help by
setting the framework conditions right (global level playing field; crisis related measures;
carbon border adjustment; EU funding for developing new technologies, etc.). Mr Mittal
wishes to have a meeting with EVP Dombrovskis to address these various points.
Electronically signed on 27/07/2020 12:52 (UTC+02) in accordance with article 4.2 (Validity of electronic documents) of Commission Decision 2004/563