steel production - Latest news GMK Center

As part of the restructuring, the company will cut around 9% of its workforce

The company will ramp up production of these products in the region

Steel production last month rose by 21.7% compared with April

The state budget provides for funding of $228.5 million for the 2026/2027 financial year

By 2028, excess capacity will reach 745 million tons

The group announced that it will invest an additional €600 million

The total investment in the project is estimated at $6.8 billion

Another loan tranche is expected to be approved in July

The market attributes this move to the Indian group's recent acquisition of the local company MISCO

The industry will be affected by high production costs and a seasonal decline in consumption

Last month, China saw a 2.8% y/y decline

Compared to March, steel production fell by 3.3%