energy crisis - Latest news GMK Center

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

The decision to reduce production from November 2022 was made amid a slowdown in steel demand in Europe

It is proposed to establish subsidies for power plants using gas

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

US consumers avoid purchases of imported steel amid low domestic prices and short delivery times

The package of specific measures presented by the European Commission has not yet been approved

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

More than half of Germany's sheet steel producers could lose existing electricity contracts by 2023

The European steel industry directly provides 310 thousand jobs

The industry is preparing for a difficult fourth quarter in the scrap market

Starting from October 2022, the company increased the product cost surcharges to €639/t compared to €480/t a month earlier

Producers will reduce product prices amid falling electricity costs