Russian steelmaker MMK’s director for economics, Andrey Eremin, has told Reuters that the company has postponed its plans to launch the hot rolling facility at its Turkish subsidiary MMK Metalurji.
“We had completely restored equipment at the plant to working condition, had figured out all the contracts for supplying energy and raw materials. Unfortunately, we made this decision before the US introduced tariffs against metallurgical companies. We did not know that this would happen,” Reuters quoted Eremin.
Reuters said that the company is considering to make a decision regarding the relaunch in November.
MMK Metalurji halted its hot rolling operations in 2012 due to declining steel prices and market conditions.