Germany - Latest news GMK Center

The company plans to transform the enterprise in Bremen into an integrated electric steel smelting plant in the coming years

All generated electricity will be transferred to the needs of the plant

The state will finance the project in the amount of about €1.3 billion

Both technologies have been identified as critical components of the country's quest for carbon neutrality

The production of pig iron for the month increased by 1.2% y/y, and rolled steel – decreased by 0.1% y/y

One of the tools to increase demand for green materials is public procurement

At the stage of transformation, the country's steel sector needs active political steps

The company needs cheap electricity and hydrogen to continue upgrading its German assets

In 2023, Germany became the third largest importer of goods to Ukraine

High lending rates and weak demand are dragging down the EU's largest economy

The main part of the import fell on long-rolled goods – 112.33 thousand tons

The parties are in talks to sell another 30% of the division's shares to create a joint venture and each own 50% of the shares