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The rising price of gas puts EU steel industry at risk

Steelmakers are between two fires – low product prices and high production costs. The price of gas in Europe approached €230 per 1 MWh (exceeded $2,400 per 1,000 cubic meters), which is the highest price since the beginning of March, when spot exchange prices for this fuel increased sharply to an absolute record. During the day, futures rose in price by 11%. Gas is rising in price on the background of drought in Europe and reduced supplies from Russia by the Nord Stream 1 gas pipeline by 20%. Read more at: GMK Center

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Trucking has a large appetite for steel, with about 5 metric tons of the metal in each vehicle. Roughly 23 million heavy buses, trucks and light commercial vehicles were produced worldwide in 2021, an

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