ArcelorMittal (MT) is delaying green investments, including projects to replace two blast furnaces with hydrogen-powered units in France, due to uncertainty about the European Union's regulatory directives, Reuters reported Friday, citing an email from the company.
"We are operating in a difficult market, and there are a number of policy uncertainties that are impacting the industry," according to a company statement sent to Reuters.
ArcelorMittal's decision is hinged on a carbon border adjustment mechanism, stronger trade defense measures, and the finalization of the European Commission's Steel and Metals Action Plan, the company reportedly said.
ArcelorMittal and the European Commission did not immediately reply to MT Newswires' requests for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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