EU

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European Central Bank cuts key interest rates

The base rate for loans will be 4.25%, the rate for deposits will be 3.75%

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ArcelorMittal announces price increases for long products across Europe

This step is due to high production costs and the need to restore margins

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The Netherlands supports €3 billion in green subsidies for Tata Steel IJmuiden

The funds will be used to modernize the enterprise and reduce its environmental impact

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Traders are concerned about the EU’s decision to extend protective measures on steel imports

Market participants are particularly concerned about the proposal to limit the use of the quota for other countries for hot-rolled steel

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Voestalpine reduced revenue by 8.5% y/y in FY2023/2024

The company's EBITDA for the reporting period fell by 34.5% y/y

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EC starts working on a pilot mechanism for the development of the hydrogen market

The mechanism is designed to increase the transparency of supply and demand

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Marcegaglia acquires Ascometal steel plant in Fos-Sur-Mer

The company undertakes to invest €600 million in the modernization of the plant

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Eurozone inflation accelerated to 2.6% in May

The indicator grew stronger than analysts' forecast

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EU to extend safeguard measures on steel imports for another two years

A 15 percent restriction on imports of hot-rolled coils and wire rod under the remaining quarterly quota is also introduced

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European Union imported 1.11 million tons of Russian iron and steel products in Q1

The main share of imports falls on semi-finished products – 78.7% of the total volume of deliveries

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Romania plans to resume operation of Otelu Rosu steel plant

UMB's new investor will invest over €300 million to restart the company, which has been idle since 2013

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EU approves law on stimulating the production of green technologies

In particular, the law is intended to strengthen European industry in the face of competition from China and the United States

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