steel production - Latest news GMK Center

In April, the production of pig iron in the country fell by 3.4% y/y

In the 2022/2023 financial year, the company reduced the volume of steel production by 11.4%

The construction of the new enterprise is planned to be completed in three years

The blast furnace has been idle since July 2022

Chinese steelmakers increased steel output by 1.5% y/y in April

During the year, the company produced 3.5 million tons of steel and 3.3 million tons of pig iron

The company sees enough opportunities to increase production capacity to 40 million tons per year

The company has already concluded an agreement for the supply of environmentally friendly steel to the Mercedes-Benz automobile company

The profit of the steel division in January-March 2023 amounted to $37.44 million

Costs of importing steel to the country increased by 33% y/y

The utilization rate of electric arc furnaces by Chinese steelmakers as of May 4, 2023, was 50.42%

In one month, Indian steelmakers shipped 855,000 tons of steel for export