9,807.50 TRY BIST 100 BIST 100
36.37 USD USD USD
5.04 CNY CNY CNY
38.11 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
39.46 TRY Interest Interest
76.31 USD Fossil Oil Fossil Oil
33.10 USD Silver Silver
4.62 USD Copper Copper
106.70 USD Iron Ore Iron Ore
351.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,437.60 TRY Gold (gr) Gold (gr)

Moldova Steel Works has suspended operations

Moldova Steel Works has suspended operations until January 20 due to the cessation of Russian gas supplies to the region.

Moldova Steel Works has suspended operations

“In order to minimize electricity consumption at the plant, a second change has been made to Order No. 324 of December 26, 2024. In accordance with it, the plant's employees, except for duty personnel, are exempted from being present at their workplaces until January 20, 2025 inclusive,” the company's Telegram channel reports.

On January 6, the plant reported that plant employees, with the exception of on-duty personnel, are exempt from attending work from January 8 to January 13, 2025, inclusive.

Only about 50 MMZ employees on duty are reporting to work, while more than 2,000 people are temporarily out of work. In December, the plant was partially operational, producing steel products. However, the energy crisis forced the shutdown of the electric arc furnace, which consumes about 95 MW per hour. 

The Moldovan Ministry of Energy stated that in January 2025, the country will import most of its electricity from neighboring Romania, and 30% will be provided by local thermal power plants.

 

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

Most read news

South Korea increases tariffs amid currency fluctuations

Sunday, February 23, 2025

Australian Government announces $1bn fund for low-emission iron and steel production

Sunday, February 23, 2025

Tosyalı Holding bids for Liberty Steel plant in Luxembourg

Saturday, February 22, 2025

CMB launches investigation into unusual price movements on Borsa Istanbul

Saturday, February 22, 2025

Black Sea pig iron prices drop to lowest level since 2020

Thursday, February 20, 2025
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