EU

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Exhaustion of import quotas for HRC in the EU will promote demand for local products

The market believes that European producers may try to raise prices

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EUROFEER has downgraded the forecast for a fall in steel demand in the EU to 3% in 2023

The main drivers of negative expectations are high energy prices, increased production costs and the war in Ukraine

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Instability in global construction will lead to a drop in demand for steel – MEPS

Industrial and infrastructure projects in global economies cannot compensate for sector weakness

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Ukraine received another tranche from the EU for €1.5 billion

The funds will be used to finance priority expenditures of the state budget

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EU and the US have not yet reached a consensus on the steel agreement

The parties aim to reach an agreement by the autumn 2023

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Italy must accelerate the launch of infrastructure projects – Assofermet

The National Recovery Plan is an opportunity to restart the country's industry

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EU construction decreased by 0.4% y/y in May

Compared to April 2023, the indicator increased by 0.2%

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Global iron ore market trend: EU and Ukraine’s prospects

In January-April, Ukrainian iron ore exports to the EU amounted to 19.7% of the total European imports

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European Union reduced steel exports by 8% y/y in January-May

Shipments of long rolled products decreased by 4% y/y, and flat – by 10% y/y

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EC approves €2.85 billion green subsidies for Thyssenkrupp and ArcelorMittal

Environmental subsidies will support the decarbonization of steel production processes

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EU electricity market reform is insufficient – EUROFER

The proposed steps do not address the root causes of high prices

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European HRC importers actively use quotas for Q3

About 40% of the total import quotas for hot-rolled coils have already been used

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