Sheffield steel: World's second biggest steel firm ArcelorMittal makes promise before factory closes

And they have set out how the business will be wound down and staff laid off.

ArcelorMittal Sheffield Ltd of Vulcan Works, Birley Vale Close, Birley Vale, is set to close by the middle of July making 40 workers redundant.

The site makes fencing under the EstateWIRE brand.

A spokesperson said they would pay all invoices before it shut.

“ArcelorMittal Sheffield makes a firm commitment to meeting all our financial obligations. All invoices issued will be paid in accordance with our agreed terms,” they said.

“The process will be orderly. We plan to stop production in July 2025. Following that, some time will be needed to dismantle the site.”

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They added: “We are proposing collective redundancy, but in parallel we are exploring all opportunities within ArcelorMittal for employees who may be open to transferring to other sites and who have relevant skills.”

Luxembourg-based ArcelorMittal was the second biggest producer of steel globally last year, according to Statista.com.

The firm blamed the Sheffield closure on “market and industry conditions,” including a 25 per cent drop in demand for wire rod in the UK since 2018.

At the same time, imports had increased their market share by 33 per cent, the firm said.