The most heavily subsidized steel company in the world can't get the math to work and is closing plants. I suspect Macron said no more dough in the till.
"Exorbitant Rise In Energy Prices" Forces Europe's Top Steelmaker To Close Plants
Even though European power and natural gas prices have subsided this week, Germany, the largest economy in the bloc, still faces historically high energy costs that have forced cuts in industrial output.
The latest example is the world's largest steelmaker, ArcelorMittal, which released a statement Friday about shutting down two plants and idling one.
Europe's top steelmaker said two plants in Germany (one in Bremen and the other in Hamburg) would be partially closed at the end of September. A plant in Asturias, Spain, will also be idled.
https://www.zerohedge.com/commodities/e … ose-plants