Moldova Iron and Steel Works has been affected by US import duties.
The company competitors have switched their products to Europe, and a surplus of metal appeared on markets traditional for MMZ, decreasing steel and rolled metal prices.
“When the duties have been introduced, Turkish manufacturers had to reorient. They started supplying a part of their products to the European markets, including Romania, which is one of our largest consumers. Naturally, because of the growth of offer, prices have dropped”, the company CEO Sergey Kortnev said.
In April MMZ lost some $50 on each ton. These losses have not been fatal. So far the company has been operating with profit.
This year the company intends to produce 650 thousand tons of metal, up 1.5-fold YoY. (Ukrainian metal)