Experts: Future of Czech steel industry at risk
Economic experts warn that the future of the steel industry in the Czech Republic and in the European Union is uncertain. The sector could continue to shrink or cease to exist in its current form, they say. The industry is negatively affected not only by the overall slowdown in the European economy, but also by low demand, expensive energy prices, pressure for greener production and imports of cheap steel from Asia.
Data from the Steelworkers' Union shows that Czech steel mills produced 2.4 million tons of crude steel last year, the lowest production for the second consecutive year. Compared to 2023, domestic steel production fell by another quarter last year.