energy crisis

European steel producers fear a deepening recession due to the energy crisis

The steel sector replenishes the budgets of European countries with tens billions of euros, but mass shutdowns of capacities will negatively affect the amount of tax revenues

European governments have spent about €500 billion to combat the energy crisis

Analysts believe that state intervention has become structural

The Hungarian steel mill Dunaferr was forced to stop production

The reason was the refusal of the Austrian Donau Brennstoffkontor GmbH to supply coke
ArcelorMittal agrees with unions on employment schemes at plants in Spain

The company is counting on an agreement that will allow the company to idle any of its plants in Spain for any period until the end of 2023
The Italian rolling mill Arvedi shut down three electric arc furnaces

High electricity prices and low demand for steel forced the company to shut down two furnaces in Cremona and one in Terni

Steel distributors in the EU are calling on producers to cut capacity

Steel production must be cut until the market returns to a balance between supply and demand

The EU to set a price ceiling for electricity at €180 MWh

The cap will apply directly to the price of electricity produced by non-gas plants
The Spanish government promised to support the steel industry in the event of energy crisis

In recent months, the country's government has allocated more than €850 million to support local gas and electricity-intensive industries
Türkiye to refuse investments in new steel projects

Due to the increase in electricity tariffs, Turkish steelmakers are trying to maintain their existing production capacity

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