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EU energy costs for long steel-making continue to rise

发布时间:[2021-9-30 9:52:34]    浏览量:38次
European long products mills were worried that electricity costs will soar further. Some market participants stated that energy costs accounted for 15% of the total cost of steel production. The electricity bills increased extra expenditures by EUR 40-50 per ton for steel. Some mills considered that the profits will be offset by electricity prices.

Therefore, many manufacturers decided to raise their prices in October or even reduce or discontinue production. However, the new quota was expected to increase imported steel products to Europe in October. Buyers thought that the above was just an excuse for steel mills to maintain high prices of long products.

The sharp increase in electricity prices was related to the rise in natural gas prices. China continued to hoard natural gas, which caused electricity shortages in Europe.

The electricity costs kept rising, which made the raw material supplier of long products mills require a surcharge.

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