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Polski
Market review 18-24.01.2025
Katowice, Poland – January 27, 2025
** Suez Canal Ready to Resume Full Operations **
The Suez Canal is set to return to full operation as global trade stabilizes, according to Osama Rabie, head of the Suez Canal Authority (SCA). Rabie made this statement following a meeting with International Maritime Organization (IMO) Secretary-General Arsenio Dominguez, as reported by Egypt Today.
Rabie emphasized the canal’s recovery after improved stability in the Red Sea and Bab el-Mandeb Strait regions, which previously disrupted shipping routes. The tensions in the Red Sea significantly reduced the number of vessels passing through the canal. In the first quarter of the 2024/2025 fiscal year (July-September 2024), traffic dropped by 51% year-on-year, and revenues fell by 61.2% to $931.2 million. For the entirety of 2024, canal revenues plummeted by 60.7% to $4 billion, with vessel traffic halving from 26,400 in 2023 to 13,200 in 2024.
Rabie reaffirmed SCA’s commitment to providing seamless maritime services, including ship repair, maintenance, emergency assistance, refueling, and crew changes. Dominguez expressed confidence in the canal’s recovery and urged shipping companies to adjust their schedules accordingly.
According to Fitch Ratings, the global shipping sector remains highly vulnerable to geopolitical risks, with narrow chokepoints on major trade routes posing significant challenges.
** European Steelmakers Call for CBAM Improvements **
The European Steel Association (EUROFER) is pushing for immediate enhancements and implementation of the Carbon Border Adjustment Mechanism (CBAM), stressing its importance in leveling the playing field for European producers. Details of this position are highlighted in a EUROFER publication.
EUROFER points out that over 25 million tons of steel, approximately 20% of EU production, are imported annually from third countries without carbon cost obligations. In contrast, EU steelmakers have been subject to the Emissions Trading System (ETS) since its inception. The carbon price recently reached about €75 per ton of CO2, making CBAM a crucial safeguard against carbon leakage and a support mechanism for EU investments in steel decarbonization.
The association highlights several key recommendations:
• Structural measures to protect EU exports and ensure global competitiveness.
• Stricter rules to prevent circumvention practices like resource reshuffling.
• Expanding CBAM coverage to downstream sectors.
EUROFER stresses that changes must be implemented this year, well before the scheduled full implementation in 2026. Simplifying and rationalizing administrative procedures without compromising CBAM’s efficiency is also crucial. For more insights, visit EUROFER’s official website.
** U.S. Launches Comprehensive Trade Policy Review **
President Donald Trump has initiated a thorough review of America’s trade policies, as announced on the White House website. The executive order directs relevant agencies to investigate trade deficits, assess the viability of a Foreign Revenue Service, and examine existing trade agreements.
Key focuses include:
• Evaluating the impact of the U.S.-Mexico-Canada Agreement (USMCA) on American workers and businesses.
• Investigating trade practices with China.
• Assessing additional economic security measures and the effectiveness of tariffs on steel and aluminum imports.
Trump also announced plans to impose a 25% tariff on imports from Mexico and Canada starting February 1, potentially prompting retaliatory measures from these trade partners. Notably, Mexico and Canada are among the U.S.’s largest trading partners, with combined imports exceeding $893 billion in 2024. Both countries have indicated possible counter-tariffs on U.S. goods, including steel and aluminum.
** Polish Huta Częstochowa Revives Steel Production **
After a year-long hiatus, Poland’s Huta Częstochowa steel plant resumed operations on January 20, 2025, as reported by wpn.pl. By the end of January, the plant aims to produce 10,000 tons of steel, scaling up to 20,000 tons in February.
The plant, employing about 1,000 people, restarted under the management of Węglokoks, which currently leases the facility. Węglokoks Vice President Adrian Sinićki outlined plans to reach 45,000 tons of monthly production by May. Meanwhile, an auction scheduled for mid-February will determine the plant’s future ownership.
Polish Industry Minister Marzena Czarnecka described Huta Częstochowa as a strategic asset and pledged government support to maintain its domestic control. Efforts are underway to formulate a new strategy for the metallurgical sector, emphasizing coke as a strategic resource.
** ArcelorMittal Poland Commissions Hydrogen Furnaces in Krakow **
ArcelorMittal Poland has inaugurated hydrogen furnaces at its annealing plant in Krakow, as noted in the company’s official release. This project, costing 52 million zloty ($12.5 million), replaces ammonia with a hydrogen atmosphere, reducing carbon emissions by 50% and decreasing natural gas and electricity consumption.
Nine new furnace stations have been installed, marking a significant technological advancement. Kamila Kaczmarek, technical director at the plant, highlighted that this is the first hydrogen furnace installation in Poland and the ArcelorMittal group in Europe. Components for the furnaces were sourced from Poland, Austria, and the United States.
The facility, already home to one of Europe’s most modern hot rolling mills, continues to attract significant investments, totaling nearly 2.5 billion zloty since 2004. For further details, refer to the ArcelorMittal Poland website.
Primeore Trading (Polska) Sp. z o.o. is a trading arm of Primeore Ltd. which is responsible for handling of all international trading and trading-related operations of the group. The company is involved into operations with manganese ore, ferroalloys, coke and coal products worldwide.
Media contacts
For further information please contact office.poland@primeore.eu
** Suez Canal Ready to Resume Full Operations **
The Suez Canal is set to return to full operation as global trade stabilizes, according to Osama Rabie, head of the Suez Canal Authority (SCA). Rabie made this statement following a meeting with International Maritime Organization (IMO) Secretary-General Arsenio Dominguez, as reported by Egypt Today.
Rabie emphasized the canal’s recovery after improved stability in the Red Sea and Bab el-Mandeb Strait regions, which previously disrupted shipping routes. The tensions in the Red Sea significantly reduced the number of vessels passing through the canal. In the first quarter of the 2024/2025 fiscal year (July-September 2024), traffic dropped by 51% year-on-year, and revenues fell by 61.2% to $931.2 million. For the entirety of 2024, canal revenues plummeted by 60.7% to $4 billion, with vessel traffic halving from 26,400 in 2023 to 13,200 in 2024.
Rabie reaffirmed SCA’s commitment to providing seamless maritime services, including ship repair, maintenance, emergency assistance, refueling, and crew changes. Dominguez expressed confidence in the canal’s recovery and urged shipping companies to adjust their schedules accordingly.
According to Fitch Ratings, the global shipping sector remains highly vulnerable to geopolitical risks, with narrow chokepoints on major trade routes posing significant challenges.
** European Steelmakers Call for CBAM Improvements **
The European Steel Association (EUROFER) is pushing for immediate enhancements and implementation of the Carbon Border Adjustment Mechanism (CBAM), stressing its importance in leveling the playing field for European producers. Details of this position are highlighted in a EUROFER publication.
EUROFER points out that over 25 million tons of steel, approximately 20% of EU production, are imported annually from third countries without carbon cost obligations. In contrast, EU steelmakers have been subject to the Emissions Trading System (ETS) since its inception. The carbon price recently reached about €75 per ton of CO2, making CBAM a crucial safeguard against carbon leakage and a support mechanism for EU investments in steel decarbonization.
The association highlights several key recommendations:
• Structural measures to protect EU exports and ensure global competitiveness.
• Stricter rules to prevent circumvention practices like resource reshuffling.
• Expanding CBAM coverage to downstream sectors.
EUROFER stresses that changes must be implemented this year, well before the scheduled full implementation in 2026. Simplifying and rationalizing administrative procedures without compromising CBAM’s efficiency is also crucial. For more insights, visit EUROFER’s official website.
** U.S. Launches Comprehensive Trade Policy Review **
President Donald Trump has initiated a thorough review of America’s trade policies, as announced on the White House website. The executive order directs relevant agencies to investigate trade deficits, assess the viability of a Foreign Revenue Service, and examine existing trade agreements.
Key focuses include:
• Evaluating the impact of the U.S.-Mexico-Canada Agreement (USMCA) on American workers and businesses.
• Investigating trade practices with China.
• Assessing additional economic security measures and the effectiveness of tariffs on steel and aluminum imports.
Trump also announced plans to impose a 25% tariff on imports from Mexico and Canada starting February 1, potentially prompting retaliatory measures from these trade partners. Notably, Mexico and Canada are among the U.S.’s largest trading partners, with combined imports exceeding $893 billion in 2024. Both countries have indicated possible counter-tariffs on U.S. goods, including steel and aluminum.
** Polish Huta Częstochowa Revives Steel Production **
After a year-long hiatus, Poland’s Huta Częstochowa steel plant resumed operations on January 20, 2025, as reported by wpn.pl. By the end of January, the plant aims to produce 10,000 tons of steel, scaling up to 20,000 tons in February.
The plant, employing about 1,000 people, restarted under the management of Węglokoks, which currently leases the facility. Węglokoks Vice President Adrian Sinićki outlined plans to reach 45,000 tons of monthly production by May. Meanwhile, an auction scheduled for mid-February will determine the plant’s future ownership.
Polish Industry Minister Marzena Czarnecka described Huta Częstochowa as a strategic asset and pledged government support to maintain its domestic control. Efforts are underway to formulate a new strategy for the metallurgical sector, emphasizing coke as a strategic resource.
** ArcelorMittal Poland Commissions Hydrogen Furnaces in Krakow **
ArcelorMittal Poland has inaugurated hydrogen furnaces at its annealing plant in Krakow, as noted in the company’s official release. This project, costing 52 million zloty ($12.5 million), replaces ammonia with a hydrogen atmosphere, reducing carbon emissions by 50% and decreasing natural gas and electricity consumption.
Nine new furnace stations have been installed, marking a significant technological advancement. Kamila Kaczmarek, technical director at the plant, highlighted that this is the first hydrogen furnace installation in Poland and the ArcelorMittal group in Europe. Components for the furnaces were sourced from Poland, Austria, and the United States.
The facility, already home to one of Europe’s most modern hot rolling mills, continues to attract significant investments, totaling nearly 2.5 billion zloty since 2004. For further details, refer to the ArcelorMittal Poland website.
Primeore Trading (Polska) Sp. z o.o. is a trading arm of Primeore Ltd. which is responsible for handling of all international trading and trading-related operations of the group. The company is involved into operations with manganese ore, ferroalloys, coke and coal products worldwide.
Media contacts
For further information please contact office.poland@primeore.eu
