Germany - Latest news GMK Center

More than half of Germany's sheet steel producers could lose existing electricity contracts by 2023

The industry is preparing for a difficult fourth quarter in the scrap market

Producers will reduce product prices amid falling electricity costs

The government will introduce mechanisms for an emergency reduction in gas prices and containment of electricity prices

In January-August 2022, German steelmakers reduced steel output by 4.8%

This is the company's third production facility in Germany

The company plans to build a direct reducing iron unit at the Duisburg plant

The company also announced the shutdown of the wire rod production plant in Hamburg

This level of prices is about 14 times higher than the seasonal average over the past five years

According to the results of January-July, German steelamakers reduced steel output by 5.1%

The company claims that its production is strategically necessary for Germany's energy security plans and local district heating

Two converters could become the largest in the world, they are planned to be installed next year