9,321.64 TRY BIST 100 BIST 100
38.20 USD USD USD
5.25 CNY CNY CNY
43.91 EUR EUR EUR
0.12 CNY CNY/EUR CNY/EUR
45.84 TRY Interest Interest
66.96 USD Fossil Oil Fossil Oil
40.44 USD Silver Silver
4.76 USD Copper Copper
99.35 USD Iron Ore Iron Ore
352.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,286.58 TRY Gold (gr) Gold (gr)

Switzerland's steel industry is in crisis: Financial difficulties and support prospects on hold

The Swiss steel industry is struggling with significant financial difficulties and it was reported that the government will not provide financial support to the sector.

Switzerland's steel industry is in crisis: Financial difficulties and support prospects on hold

Switzerland's steel industry is reported to be facing a serious crisis and financial difficulties. As the country's steel industry struggles with significant financial difficulties, it has been announced that the government will not provide financial support to the sector.

Stahl Gerlafingen, one of the largest steel producers in Switzerland, was planning to stop profile production, as SteelRadar reported in recent weeks, "affected by the European Union's restrictions on flat rolled and plate products, even though it does not produce the related products".

In addition to the company, which has already closed one of its two production lines in the canton of Solothurn, Swiss Steel, one of the most important steel producers in Switzerland, is facing a similar situation. However, the company is reported to have restructuring plans of EUR 300 million, which will also enable the spin-off of assets. It is argued that the partial closure of the steel markets in the EU and the US, together with rising energy prices, is also negatively affecting companies in Switzerland.

Despite this difficult situation in Switzerland, the government has stated that they will not be able to provide any financial measures or support for the steel sector, adding that the financial support and measures to be taken are expensive and uncompetitive.

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

Ferrexpo's record post-war production

Friday, April 18, 2025

Tosyalı to invest TRY 378 Million in solar power plant in Ankara

Tuesday, April 15, 2025

AGPC reinforced its strength with 500 thousand tons of steel pipe production

Monday, April 21, 2025

AM/NS India prepares for Green Steel Taxonomy

Monday, April 21, 2025

Mozambique on its way to becoming the new center of attraction for iron and steel

Tuesday, April 22, 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