Baku Steel stops production on raw material lack

Baku Steel stops production on raw material lack

Azerbaijan based billet and long steel producer Baku Steel Company announced that the company is stopping its activity due to raw material shortage. The reason of the cease in production has been announced as lack of scrap for the electric arc furnace of the company. The company claims that certain companies owned by the government such as Azerenergy, Azneft and SOCAR have stopped providing scrap for the company. The company which consumed around 1 million tons of srap last year is currently trying to solve the problem with the government.