Trinecke Zelezarny (TZ)’s crude steel production was more or less flat on-year in 2023 at 2.42 million tonnes, raising its share in Czech output to 71%, the firm says.
This was despite global steel consumption falling for a fourth time in five years and steeply rising energy prices impacting competitiveness.
TZ’s revenue dropped 14% in 2023 to CZK 49.7 billion ($2.13 billion) but the firm still closed with a CZK 44 million profit.
Deliveries of wire rod rose 4% in 2023 to 937,500t, but sales of bars and sections, mainly to the automotive industry, declined 5% to 487,000t. Rail and railway accessories sales were 250,000t, of which 89% was exported, Kallanish notes.
Capital expenditure last year was CZK 1.4 billion, allocated to automation, energy savings, increasing the efficiency of operations, and, most notably, dedusting both blast furnaces.
The firm is working towards the production of low-emission steel, which mainly involves the installation of an electric arc furnace. However, according to TZ supervisory board vice chairman Ján Moder, sufficient clean energy at competitive prices and scrap supply in the European market, as well as effective EU protection measures against imports will be essential for successful decarbonisation. Subsidies will also be crucial, he adds.
Adam Smith Poland