Winoa is facing an unprecedented situation of rising costs in its primary raw materials. The current cost dynamics have forced Winoa to implement a worldwide price adjustment to continue providing customer the top quality products and services they have grown to expect.
The recent boom in the production of batteries for electrical vehicles has strained the supply chain of graphite materials and caused a remarkable hike in the market prices of graphite electrodes used in electric arc furnaces for melting steel.
The increasing environmental pressure on the global steel industry is driving an aggressive reduction of the industry carbon emissions. The pressure has triggered technological changes affecting the supply chain of raw materials for steel making which is combining with a reversal in cycle of metal manufacturing commodities. These changes are particularly impacting ferro alloys and refractories.
In addition, after years of capacity buildup, the shipping industry idled ships for the second year and continue to consolidate to reduce overcapacity. These efforts have contributed to major shipping indexes such as the Baltic dry index or China Containerized Freight Index to post double digits growth in 2017.
Over time Winoa has always kept the quality of its products and services at the top of its decisions, today even in the hardest times, the company will continue to strive to maintain the best value for its customers.
The current cost dynamics have forced Winoa to implement a worldwide price adjustment to continue providing customer the top quality products and services they have grown to expect. In parallel the company will take all the necessary actions to face this exceptional situation and will closely monitor primary raw materials evolution to keep its customers informed of potential future changes.