Dunaferr Shuts Down 2nd Blast Furnace
Hungarian steel maker Dunaferr shut down its second blast furnace on Friday, after its coke supplier, Donau Brennstoffkontor (DBK), stopped deliveries, the company said on its website.
Dunaferr shut down its other blast furnace weeks earlier.
The company said lower steel prices paired with the unprecedented rise in energy prices, supply chain issues, and the war in Ukraine have put the company in a situation with which it is "unable to cope alone". Government support could give the company "a chance to survive" and continue to ensure work for its 4,500 employees, Dunaferr added.
Dunaferr said the "only solution" to its woes is the restart of coke deliveries by DBK "within a week, at the latest".
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.