11,024.33 TRY BIST 100 BIST 100
4.57 CNY CNY CNY
32.97 USD USD USD
35.87 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
40.55 TRY Interest Interest
85.89 USD Fossil Oil Fossil Oil
31.06 USD Silver Silver
4.49 USD Copper Copper
107.83 USD Iron Ore Iron Ore
382.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,553.39 TRY Gold (gr) Gold (gr)

Zaporizhzhya Ferroalloy Plant continue to go on downtime in March

Zaporizhzhya Ferroalloy Plant planing to stop work in March due to high electricity costs.

Zaporizhzhya Ferroalloy Plant continue to go on downtime in March

Zaporizhzhya Ferroalloy Plant (ZFP) will not restart operations in March 2024, as planned earlier. The reason for this is high electricity prices and low ferroalloy prices on the world market.

Pavel Kravchenko, chairman of the board of ZFP, said that while electricity prices are gradually falling and ferroalloy prices on the world market are rising, this is not enough to restart the plant.
In 2023, Ukrainian ferroalloy companies reduced production by 57.4% compared to 2022. This is related to the complete shutdown of Nikopol Ferroalloy Plant, ZFP and Marganets Mining and Processing Plant from November 2023. This was particularly caused by the intensification of hostilities, falling ferroalloys prices, and logistical restrictions.
One of the main reasons for plant shutdowns is the increase in electricity tariffs, which affected production costs and profitability of the plants.

Exports of ferroalloys in 2023 decreased by 4.9% year-on-year to 344.2 thousand tonnes in 2022. Compared to pre-war 2021, shipments of ferroalloys abroad decreased by 48.5%, or 324.4 thousand tonnes. In 2023, Poland became the leader in consumption of Ukrainian-made ferroalloys, purchasing 52.8% of products in monetary terms. Türkiye ranked second with 14.1% of export shipments, while the Netherlands ranked third with 8.5%.

In January 2024, exports almost completely stopped, with 0.23,000 tonnes of products exported during the month, compared to 2.5,000 tonnes in December and 55.9,000 tonnes in January 2023.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In
SteelRadar Insight - Sayı 1 (Haziran 2024)

Most read news

Colombian iron and steel exports increase in volume but decline in value

Wednesday, July 10, 2024

ASEAN-6 region saw an increase in total scrap demand

Wednesday, July 10, 2024

New era in EU steel quotas : Türkiye hits capacity on 4 products

Thursday, July 11, 2024

Shyam Metalics and Energy announced its consolidated net profit in the 4th quarter

Thursday, July 11, 2024

Steel production on the increase in Spain!

Thursday, July 11, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now