steel production - Latest news GMK Center

Disruptions in supply chain are not the main problem now. War worsens current economic situation globally

The autumn months adjusted the cost of electricity by an average of €300 MWh from the peak price in August 2022 – to €150 MWh

The volume of steel production at the plant in Taranto in 2021 amounted to only 3 million tons

During this period, the production of steel products fell by 0.7% y/y, and pig iron – by 0.4% y/y

Longer shutdowns of steelmakers for maintenance will affect scrap consumption in the first quarter of 2023

Toscelik Niksic produces non-alloy steel, roller-bearing steel, tool steel, and heat-resistant steel

Pig iron smelting in November 2022 amounted to 335 thousand tons, and steel – 313 thousand tons

The first plant of this type in the European steel industry cost the company €200 million

In November 2022, the iron ore import decreased by 5.8% year-on-year and by 4.1% more compared to the previous month

The shutdown of the unit is due to high electricity costs and a drop in demand for finished products

Investments in unit maintenance are planned at the level of $3.9 million

Quotations of steel products are likely to fall by the end of the year despite the government's efforts to support the industry