energy crisis
Energy crisis in Europe could deepen next winter

Energy-dependent industries will actively explore the possibility of moving production
The Italian government allocated €9.1 billion to compensate high energy costs

A third of the funds will go to tax credits for enterprises

Switzerland will allocate ₣100 million for the urgent restoration of Ukraine’s energy sector

The funds will be directed to mitigating the consequences of winter for the population of Ukraine

High energy prices threaten the industrial base of the EU — Moody’s

There is a high risk of investment displacement from energy-intensive production sectors of the EU

Attacks on the energy infrastructure have complicated the work of the steel sector

Companies in the industry are working with reduced volumes and are implementing energy saving measures
Ferrexpo partially resumes production after stabilization of energy supply

From October 11, 2022, the company had to suspend capacity due to massive damage to the Ukrainian energy infrastructure

SSAB to shut down one blast furnace at Finnish Raahe plant in November

The decision to reduce production from November 2022 was made amid a slowdown in steel demand in Europe
The EU are working on limiting the gas price for the electricity production

It is proposed to establish subsidies for power plants using gas

Turkish steelmakers expect an increase in steel exports to the EU from 2023

As a result of the energy crisis in Europe, the production and supply of steel is reduced, which can positively affect imports from Turkiye

Business Standard
The EU energy crisis restrains the export of European steel to the USA

US consumers avoid purchases of imported steel amid low domestic prices and short delivery times
EU leaders agree on measures to combat energy crisis

The package of specific measures presented by the European Commission has not yet been approved
ArcelorMittal Warszawa is working on reducing energy consumption during downtime

The company is analyzing various scenarios to prepare for a potential shortage of energy or raw materials

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