Turkish steel mill Kardemir aims to comply with European Green Deal

Kardemir, Turkey's largest integrated long steel producer, will continue to invest in green steel and environmental protection in line with the European Green Deal.

Highlighting that European and Turkish steelmakers have focused on investing in carbon reduction in recent years, Kardemir said it has already completed 22 of 34 different green investment projects as part of the third phase of its investment plan.

“We intend to complete the remaining 12 other projects gradually over the next few years in line with our sustainability policy, aiming to comply with the European Green Deal and the Carbon Border Framework,” it said.

According to Kardemir, the company will also continue to invest synchronously in value-added steel to expand its product range.

“In this regard, investments in our new ladle furnace, continuous casting plant and vacuum degassing plant will be realized next year.”

The company is building a 30 MW power plant to reduce energy costs.

Fluctuations in raw material and energy prices, as well as demand conditions, have recently put pressure on steel prices at Turkish mills.

Energy prices in Turkey continued to rise after the latest increase was announced over the weekend.

According to S&P Global Commodity Insights, Platts valued Turkey's rebar exports at $567.50/t FOB on Oct. 4, up $2.50/t/d from the previous day.

Kardemir has a capacity of 3.5 million tons of liquid steel per year and produces billets, fittings, wire rods, profiles and angles.