energy crisis

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

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

The company's blast furnaces will be partially stopped at enterprises in France, Poland, Spain and Germany

The exact amount Jingye Group is asking is unknown – it could be several hundreds millions of pounds

The government will introduce mechanisms for an emergency reduction in gas prices and containment of electricity prices

The current gas price of around €200/MWh creates a difficult situation for energy-intensive industries

During the next three months, the electric arc furnaces at the plant will not work for several days a week to save electricity

Tax discounts included in the decree «Aiuti ter» will allow reducing the impact of energy costs in energy-intensive industries