EU

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EU steel market is under pressure of limited supplies

Problems of local steel plants hinder finding balance between demand and supply

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Industrial production in the Eurozone fell by 0.5% m/m in February

Compared to February 2022, industrial production in the Eurozone increased by 13.2%, and in the EU – by 14.5%

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Import quotas in the EU remained unused in the first quarter

Quotas for most products were selected slowly

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Ukraine received €1.5 billion in macro-financial assistance from the EU

From the beginning of 2023, the total amount of direct budget aid from the EU will reach €4.5 billion

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Marcegaglia plans to acquire Latvian Severstal Distribution SIA

Currently, these intentions are being evaluated by the EU antimonopoly authority

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The EU presented a strategy for providing the bloc with critical raw materials

The list of strategic raw materials includes 16 items

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Industrial production in the eurozone in January 2023 increased by 0.7% m/m

Compared to January 2022, industrial production in the Eurozone increased by 0.9%, and in the EU – by 1%

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EUROFER calls for a comprehensive reform of the EU electricity market

Currently, the steel sector consumes about 75 TWh of electricity per year

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The EU will continue the preferential trade regime for Ukraine

The second tranche of macro-financial assistance should arrive at the end of March

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Electricity prices rose in most EU countries in February 2023

One factor was the rising cost of the carbon contract

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The EU has agreed to reduce energy consumption by 11.7% by 2030

From 2024 to 2030, countries will have to reduce final energy consumption by an average of 1.49% annually

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The EU plans to stimulate electricity contracts with a fixed price

The draft market reform proposal will be presented on March 16 2023

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