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Photo – What does the eighth package of sanctions mean for the steel industry of the EU and the Russian Federation

The European Commission expanded the list of restrictions, but postponed their entry into force until 2023-2024

Photo – European governments save steel industry from high electricity prices
European governments save steel industry from high electricity prices

Spot electricity prices vary across European countries, and governments are introducing packages of measures to overcome the energy crisis

Photo – Western sanctions had almost no effect on the work of the Russian iron and steel industry
Western sanctions had almost no effect on the work of the Russian iron and steel industry

After 6 months of war, steelmakers from the Russian Federation are experiencing difficulties with exporting products and buying spare parts for equipment

Photo – The European energy crisis created new opportunities for Asian steel producers
The European energy crisis created new opportunities for Asian steel producers

Also, the rise in energy prices and the war in Ukraine put the ambitious green transition of European steelmakers on pause

Photo – Will anti-dumping investigations against steel from the Russian Federation become a trend
Will anti-dumping investigations against steel from the Russian Federation become a trend

Cheap Russian steel products lead to a drop in production and income of local manufacturers

Photo – World scrap metal prices are falling due to reduced steel production
World scrap metal prices are falling due to reduced steel production

Market operators expect that scrap prices will rise in autumn due to the increase in demand for steel

Photo – Steelmakers around the world are shutting down capacity due to falling demand
Steelmakers around the world are shutting down capacity due to falling demand

EU steel companies are waiting for an increase in demand and a rise in steel prices in the fall, but this may not happen

Photo – Iron ore market in EU is waiting for redistribution
Iron ore market in EU is waiting for redistribution

Diversification of supplies is required due to expected export cut from Ukraine

Photo – Deglobalization and regionalization: global trend of the world economy
Deglobalization and regionalization: global trend of the world economy

The new reality has learned Ukrainian mining & metals industry to be flexible and make quick market decisions

Photo – European steelmakers concern about potential gas shortages
European steelmakers concern about potential gas shortages

High energy prices have already caused steel and its production prices growth in the region

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