steel production - Latest news GMK Center

The state budget provides for funding of $228.5 million for the 2026/2027 financial year

By 2028, excess capacity will reach 745 million tons

The group announced that it will invest an additional €600 million

The total investment in the project is estimated at $6.8 billion

Another loan tranche is expected to be approved in July

The market attributes this move to the Indian group's recent acquisition of the local company MISCO

The industry will be affected by high production costs and a seasonal decline in consumption

Last month, China saw a 2.8% y/y decline

Compared to March, steel production fell by 3.3%

In the near future, the company will focus on restructuring its business

Production of long products fell by 7.7% m/m, while production of flat products fell by 9.2% m/m

New projects will require more substantial cuts elsewhere