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energy crisis - Latest Articles GMK Center

Photo – EUROFER and industriAll call for protection of the EU steel sector
EUROFER and industriAll call for protection of the EU steel sector

The European steel industry directly provides 310 thousand jobs

Photo – German scrap suppliers are concerned about high energy prices
German scrap suppliers are concerned about high energy prices

The industry is preparing for a difficult fourth quarter in the scrap market

Photo – French Aperam applies energy surcharges to its contracts
French Aperam applies energy surcharges to its contracts

Starting from October 2022, the company increased the product cost surcharges to €639/t compared to €480/t a month earlier

Photo – German steelmakers expect steel prices to fall in October 2022
German steelmakers expect steel prices to fall in October 2022

Producers will reduce product prices amid falling electricity costs

Photo – European governments save steel industry from high electricity prices
European governments save steel industry from high electricity prices

Spot electricity prices vary across European countries, and governments are introducing packages of measures to overcome the energy crisis

Photo – ArcelorMittal begins temporary shutdowns of steel plants capacities in Europe
ArcelorMittal begins temporary shutdowns of steel plants capacities in Europe

The company's blast furnaces will be partially stopped at enterprises in France, Poland, Spain and Germany

Photo – The Chinese owner of British Steel is asking for financial help from the UK government
The Chinese owner of British Steel is asking for financial help from the UK government

The exact amount Jingye Group is asking is unknown – it could be several hundreds millions of pounds

Photo – Germany allocates €200 billion to overcome the energy crisis
Germany allocates €200 billion to overcome the energy crisis

The government will introduce mechanisms for an emergency reduction in gas prices and containment of electricity prices

Photo – EUROFER once again appealed to the EU for urgent action in the conditions of the energy crisis
EUROFER once again appealed to the EU for urgent action in the conditions of the energy crisis

The current gas price of around €200/MWh creates a difficult situation for energy-intensive industries

Photo – Askoval plans to cut production in half from October 2022
Askoval plans to cut production in half from October 2022

During the next three months, the electric arc furnaces at the plant will not work for several days a week to save electricity

Photo – The Italian government supported the steel sector in the conditions of the energy crisis
The Italian government supported the steel sector in the conditions of the energy crisis

Tax discounts included in the decree «Aiuti ter» will allow reducing the impact of energy costs in energy-intensive industries

Photo – European steel producers fear a deepening recession due to the energy crisis
European steel producers fear a deepening recession due to the energy crisis

The steel sector replenishes the budgets of European countries with tens billions of euros, but mass shutdowns of capacities will negatively affect the amount of tax revenues

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