Turkish steelmaker Kardemir targeting European Green Deal compliance

Kardemir, Turkey’s largest integrated long steel producer, is to continue its green steel and environmental investments to comply with the European Green Deal.

Highlighting that European and Turkish steel producers have focused on carbon reduction investments in recent years, Kardemir said it has already completed 22 of 34 different environmental investment projects as a part of the third phase of its investment plan.

“We are aiming to complete the remaining 12 other projects gradually in the coming few years in line with our sustainability policy, aiming to comply with the European Green Deal and Carbon Border Adjustment Mechanism,” it said.

The company will also continue its value-added steel investments synchronously to expand its product range, Kardemir said.

“Our new ladle furnace, continuous casting facility and vacuum degassing plant investment will be realized in this regard in the coming year.”

The company is building a 30 MW power plant to reduce its energy costs.

Fluctuations in raw material and energy costs as well as demand conditions have been pressuring Turkish mills’ steel pricing recently.

Energy prices in Turkey increased further with the latest hikes announced last weekend.

Platts assessed Turkish exported rebar at $567.50/mt FOB on Oct. 4, down $2.50/mt day on day, according to S&P Global Commodity Insights data.

Kardemir has 3.5 million mt/year liquid steel capacity and produces billet, rebar, wire rod, sections and angles.

Cenk Can