Italy - Latest news GMK Center

The production shutdowns are related to efforts to balance supply and demand in the stainless steel market

The new plant, worth €2.5 billion, will contribute to the decarbonization of steel production and the strengthening of economic cooperation

For 10 months, Italian steelmakers have reduced production by 4.7% y/y

According to the project, the enterprise will have a production capacity of 2.5 million tons per year

The production of rolled products fell by 5.4% y/y, and the production of flat products fell by 9.1% y/y.

The move is part of a large-scale development plan for the company in Taranto

Currently, only one blast furnace is operating in Taranto – No. 4

The industry association believes that this can become a structural solution to the energy supply problem

The production of rolled products fell by 64.3% m/m, and that of flat products – by 42% m/m

The industry association also points to high electricity prices for Italian steelmakers

The stoppage is due to a technical malfunction in the system of stepping beams

Credit funds in the Italian project are at least 70%