steel production - Latest news GMK Center

The largest drop in stainless steel production was recorded in the USA – by 14.8% y/y

Recently, there was a fire at one of the three blast furnaces of the plant. The company is evaluating the consequences and cause of the incident

This is the third decrease in gas prices in the country in 2023. In February, gas for industry became cheaper by 13-17%, and in March – by 21-26%

In January-February 2023, Belgian steelmakers reduced steel production by 1.3% y/y

The level of gas prices in Turkiye may balance with the cost of energy resources in the EU already in June of this year

In January-February, Austrian steel companies reduced steel output by 11.2% y/y

The fire started in the morning of March 30, 2023, on the roof of the blast furnace, but it was quickly extinguished

The company applies an energy premium of €866/t to the March contracts

The country's steel sector is also under pressure from price fluctuations for imported scrap

The company plans to increase profits thanks to the green transition and premium products

Growth is expected in infrastructure-related sectors

In January-February, the country's steelmakers reduced steel production by 34.5% y/y