Last year, the company reduced its planned investments by 500 million Czech koruna ($22 million) due to a decline in demand and low prices, it said.
“We reduced total investment by more than 500 million Czech koruna last year due to adverse market and economic developments. We invested 2.3 billion Czech Koruna,” Jan Czudek, chief executive officer of Trinecké Železárny, said.
The price of domestic wire rod (mesh quality) in Northern Europe
, one of the company’s main products, fell continuously during 2019, from a monthly average of €544 ($602) per tonne in January, to €452.50 per tonne by December 2019.
This year, it will invest 1.4 billion Czech koruna ($61,373,970)...