EU

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EU steelmakers will work on their own environmental transition plan

The aim is to ensure the sustainability of the industry and compliance with the EU's overall transition to green and digital technologies

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European Union reduced the import of flat rolled products from Ukraine by 47% y/y in the first half of 2023

EU market consumed 339.6 thousand tons of flat rolled products of Ukrainian production in 6 months

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EU increased imports of ferroalloys from Ukraine by 24.9% y/y in the first half of 2023

In June, supplies of Ukrainian ferroalloys to the EU countries increased by 87% m/m and decreased by 56.2% y/y

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Electricity prices on European markets rose significantly in August

In the EU, there is an ongoing discussion regarding the curtailment of energy support measures by national governments

For 8 months 2023 European governments have announced €8.7 bln for decarbonization of the steel sector

47.6% of total funds (€4.1 bln) may be allocated to ArcelorMittal plants

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EBRD will provide €182 million for the Lviv-Rava-Ruska highway overhaul

Modernization of the highway will improve transport connections between Ukraine and the EU

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Sweden’s Ovako launches a hydrogen plant at its Hofors plant

Thus, the company strengthens Sweden's position in the field of environmental innovation

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Eurozone inflation remained at 5.3% in August

Analysts predicted a slowdown to 5.1%

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EU imported 89.8 thousand tons of scrap from Ukraine in the first half of the year

In June, European importers consumed 13.8 thousand tons of Ukrainian scrap metal

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EU imported 1.34 million tons of direct reduced iron in the first half of the year

The main volume of products was shipped from Russia and Libya – 676.8 thousand tons and 259.2 thousand tons, respectively

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Construction in the European Union fell by 0.6% m/m in June

Compared to May 2022, the figure remained unchanged

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Austrian steel enterprises produced 654 thousand tons of steel in July

According to the results of January-July, the country's metallurgists reduced steel production by 3.4% y/y

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