Europe - Latest news GMK Center

The reason was fluctuations in renewable energy production and gas prices

According to analysts, it may drop to €70-75/t

Demand for scrap is expected to increase under such conditions

At the same time, rail shipments of Russian steel to Turkiye increased by 12% m/m over the month

The European market is under pressure from import proposals, steel producers in China are waiting for further steps from the government

At the event, the GMK Center will present research on how Ukrainian steel industry continues to work in wartime conditions

In April 2023, the average monthly day-ahead price in most countries was below €110/MWh

Global rolled steel trade is slowing due to uncertainty in the Chinese market

In January-March, steel shipments increased by 14% q/q

European producers fight for orders, China did not show the expected recovery

European gas storage capacity remained high after the winter

The European market is breaking out of the general trend due to limited supply