steel production - Latest news GMK Center

In 10 months of 2022, German steelmakers reduced steel output by 6.9% y/y

Due to this, the sector intends to increase control over the prices of raw materials and strengthen the decarbonization of industry

Due to the damage to the energy infrastructure of Ukraine as a result of the shelling of the Russian Federation, the company is forced to rebuild its production processes

Investments in new projects – a plant for the production of galvanized steel, a pipe plant and a hot-dip galvanizing plant – are expected at the level of $478 million

Weak demand from the real estate and construction sectors will continue to put pressure on prices

The Head of Policy & External Affairs at UK Steel trade association – about the priorities and challenges for the UK steel sector today

Before the increase in the cost of electricity and gas, the share of energy resources from the total costs of steel production was 7-8%

During this period, the production of steel products fell by 1.4% y/y, and pig iron – by 1.2% y/y

The automotive sector and infrastructure projects are considered to be market drivers

The consumption of steel products in the EU will fall by 3.5% in 2022

The steel sector will need almost $244 million a year for compensation

Iron ore production decreased by 7.7% y/y in 9 months