European Union

The economy of the Eurozone will suffer the most from the global recession – OECD

European countries will feel the hardest hit as the Russian war hits business activity and causes a spike in energy prices

The EU initiates an anti-dumping investigation about bars from Turkiye and China

The investigation was initiated by the Spanish rolling company Laminados Losal

Italy’s scrap collectors fear financial losses due to the export ban

The ban on the export of scrap from the EU will lead to the loss of jobs and an increase in the stocks of scrap for European companies

The European Commission has extended anti-dumping duties on the CRC import from the Russian Federation and China

Chinese suppliers will pay a duty of 19.7-22.1%, and Russian – 18.7-36.1% for another 5 years

The European Union reduced steel exports by 17% y/y in January-August 2022

Shipments of flat rolled products from the EU decreased by 10% y/y in 8 months, and long products – by 22% y/y

French Aperam applies energy surcharges to its contracts

Starting from October 2022, the company increased the product cost surcharges to €639/t compared to €480/t a month earlier

What does the eighth package of sanctions mean for the steel industry of the EU and the Russian Federation

The European Commission expanded the list of restrictions, but postponed their entry into force until 2023-2024

European governments save steel industry from high electricity prices

Spot electricity prices vary across European countries, and governments are introducing packages of measures to overcome the energy crisis

Exports to the EU exceeded pre-war indicators in January-September 2022 – Ministry of Economy

The total Ukrainian exports decreased by almost half compared to the pre-war period

Electricity prices in Italy increased by 2.3 times from the beginning of 2022

In August 2022, the average spot price for electricity in Italy was €537 per MWh, compared to €229.6 per MWh in January 2022

European governments have spent about €500 billion to combat the energy crisis

Analysts believe that state intervention has become structural

ArcelorMittal has reduced HRC prices in Europe by €40/t

In early September 2022, the company raised product prices, but the determination quickly weakened due to low demand

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