ArcelorMittal is cutting production and could ultimately reduce output by as much as 15% because of weakening demand.
The world's largest steelmaker said on Friday the move would be "temporary".
The cut is likely to boost the price of steel at a time when global demand has been dampened by a worldwide economic slowdown.
ArcelorMittal earlier announced on Tuesday that it was reducing production in Poland by between 10% and 15% from 2007 levels.
The group said in September it foresaw growth of between 3% and 5% in the world steel market in the coming years, powered by China and other emerging market countries.
