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Photo – Global steel demand to decline by 2.3% in 2022 — WorldSteel
Global steel demand to decline by 2.3% in 2022 — WorldSteel

Growth by 1% – to 1.814 billion tons is expected in 2023

Photo – EU to continue issuing free carbon permits after 2030
EU to continue issuing free carbon permits after 2030

Steel producers achieved concessions in negotiations on changes in the European carbon market

Photo – Ukraine received €2 billion in macro-financial assistance from the EU
Ukraine received €2 billion in macro-financial assistance from the EU

In total, Ukraine received €4.2 billion in macro-financial assistance from the European Union this year

Photo – HRC prices in Europe continue to fall due to low demand
HRC prices in Europe continue to fall due to low demand

Despite the willingness of producers to provide discounts on products, demand is not recovering

Photo – Import volumes of Turkish rebar in European ports have already exceeded the EU quota
Import volumes of Turkish rebar in European ports have already exceeded the EU quota

On October 3, the price of rebar from Türkiye was at the level of $682.5/t

Photo – EU increased pig iron imports from Russia by 2.5 times y/y in 2Q 2022
EU increased pig iron imports from Russia by 2.5 times y/y in 2Q 2022

Russian suppliers are gradually occupying the traditional export markets of Ukrainian steel plants

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

Photo – Rebar producer Acciaierie di Sicilia will temporarily stop production in Catania
Rebar producer Acciaierie di Sicilia will temporarily stop production in Catania

Having worked for only a week after the previous downtime, the company shuts down again due to high electricity prices

Photo – Megasa will temporarily stop night production due to high electricity prices
Megasa will temporarily stop night production due to high electricity prices

With this step, the company expects to reduce electricity costs without stopping production

Photo – The European energy crisis created new opportunities for Asian steel producers
The European energy crisis created new opportunities for Asian steel producers

Also, the rise in energy prices and the war in Ukraine put the ambitious green transition of European steelmakers on pause

Photo – Sweden will receive an EU grant of €155.7 million for decarbonization and transformation of steel industry
Sweden will receive an EU grant of €155.7 million for decarbonization and transformation of steel industry

Industrial regions of the country account for a significant share of greenhouse gas emissions, the main sources of which are the iron and steel industries

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

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