steel production - Latest news GMK Center

Due to the increase in electricity tariffs, the steel plant will reduce the working hours of employees

The company also announced the shutdown of the wire rod production plant in Hamburg

In January-July 2022, the import of scrap metal decreased by 21.5% y/y

The capacity of the Spanish plant will be reduced due to weak demand for products

According to the head of the company, it is unprofitable to export steel by land to Europe

Local steelmakers are considering the possibility of stopping production against the background of rising energy costs and low prices for finished products

The company decided not to resume the plant's operation after summer maintenance

In January-July 2022, steel production decreased by 7.3% y/y

The company made this decision due to high electricity costs

Factories may idle capacity after summer shutdowns for repairs if buyers refuse to accept higher prices

The company plans to invest $325.8 million in the construction of a new electro-steel plant

The import of finished steel products increased by 31.8% in the first half of 2022