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steel production - Latest news GMK Center

Photo – Western sanctions had almost no effect on the work of the Russian iron and steel industry
Western sanctions had almost no effect on the work of the Russian iron and steel industry

After 6 months of war, steelmakers from the Russian Federation are experiencing difficulties with exporting products and buying spare parts for equipment

Photo – Turkish Ekinciler invests $25.2 million to increase the capacity of the steel plant
Turkish Ekinciler invests $25.2 million to increase the capacity of the steel plant

As part of the project, the company plans to increase the production of billets, rebar, wire rod and bars

Photo – India’s steel export duty will act until at least December 2022
India’s steel export duty will act until at least December 2022

The effect of the export duty in the next few months will be a stabilizing factor in the market and will prevent its volatility

Photo – Exports of long products from Ukraine decreased 67.3% y/y over 8 months 2022
Exports of long products from Ukraine decreased 67.3% y/y over 8 months 2022

Due to the blockade of Ukrainian sea ports, the EU remains the main export destination

Photo – Türkiye to refuse investments in new steel projects
Türkiye to refuse investments in new steel projects

Due to the increase in electricity tariffs, Turkish steelmakers are trying to maintain their existing production capacity

Photo – The Pakistani government has received a request from China to buy PSMC for $1.5 billion
The Pakistani government has received a request from China to buy PSMC for $1.5 billion

Representatives of four Chinese companies visited Pakistan with the aim of acquiring a controlling stake in the Pakistan Steel Corporation

Photo – Saudi Arabia to build three steel plants for $9.3 billion
Saudi Arabia to build three steel plants for $9.3 billion

The total production capacity of the enterprises will be more than 6 million tons of steel products per year

Photo – ArcelorMittal has no plans to stop production in Luxembourg
ArcelorMittal has no plans to stop production in Luxembourg

The plant has enough orders to continue its activities, the CEO of ArcelorMittal Luxembourg claims

Photo – Japan’s JFE Steel and India’s JSW are planning a joint venture
Japan’s JFE Steel and India’s JSW are planning a joint venture

The second largest steel company in Japan is looking to expand its presence in the Indian market

Photo – Steel production in China’s seven leading provinces fell by 6% y/y in January-July 2022
Steel production in China’s seven leading provinces fell by 6% y/y in January-July 2022

The indicators were affected by the Chinese government's desire for decarbonization, lockdowns and problems in the real estate sector

Photo – European demand for imported steel increased against the backdrop of high domestic prices
European demand for imported steel increased against the backdrop of high domestic prices

Due to the increase in energy costs, local producers are forced to raise the prices of their products

Photo – The European energy crisis created new opportunities for Asian steel producers
The European energy crisis created new opportunities for Asian steel producers

Also, the rise in energy prices and the war in Ukraine put the ambitious green transition of European steelmakers on pause

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