Spain-based long steel producer Megasa will modify its production shifts at its plants in Spain and Portugal, due to the increase in energy prices in recent weeks that makes operations unsustainable, according to media reports.
The company will suspend production at night from September 9 to November 1 at its Narón, Seixal and Maia plants, introducing an afternoon shift.
With this change, Megasa expects to reduce its electricity bill without a full production stoppage, unlike other companies in Europe.
The company is negotiating with the Spanish government to find solutions to overcome this situation, SteelOrbis understands.
In March this year, Megasa had suspended operations at its Seixal and Maia plants due to the increase in electricity prices, resuming production a few weeks later.