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steel production - Latest news GMK Center

Photo – EU decreased steel production by 6.7% y/y in July 2022
EU decreased steel production by 6.7% y/y in July 2022

Fifteen European plants suspended or plan to suspend steel production

Photo – Slovak US Steel Kosice shut down two blast furnaces
Slovak US Steel Kosice shut down two blast furnaces

The units were sent for idle for 60 days with the possibility of adjusting maintenance schedules

Photo – Turkish rebar producer IDC is reducing production capacity
Turkish rebar producer IDC is reducing production capacity

The company made such decision against the background of declining demand, increasing production costs and worsening economic conditions

Photo – Switzerland’s Stahl Gerlafingen to reduced working hours
Switzerland’s Stahl Gerlafingen to reduced working hours

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

Photo – ArcelorMittal to shut down the blast furnace at the Bremen plant in October
ArcelorMittal to shut down the blast furnace at the Bremen plant in October

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

Photo – Turkey reduced scrap metal imports by 43% y/y in July
Turkey reduced scrap metal imports by 43% y/y in July

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

Photo – ArcelorMittal to shut down one BF at its Asturias plant in September
ArcelorMittal to shut down one BF at its Asturias plant in September

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

Photo – ArcelorMittal is on the edge of shutdown due to port blockade and low steel prices
ArcelorMittal is on the edge of shutdown due to port blockade and low steel prices

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

Photo – Turkey increased electricity and natural gas prices for industrial users by 50%
Turkey increased electricity and natural gas prices for industrial users by 50%

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

Photo – ArcelorMittal postponed the lauch of an ACB plant in Spain due to low demand
ArcelorMittal postponed the lauch of an ACB plant in Spain due to low demand

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

Photo – Italy reduced steel production by 27% y/y in July
Italy reduced steel production by 27% y/y in July

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

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