Aperam faced production suspension due to increasing energy prices

Germany, which is heavily dependent on Russian natural gas, faces additional energy costs of 10 billion euros, equivalent to a quarter of the industry's average annual revenue.

Hans Jurgen Kerkhoff, president of the German Steel Association (WV Stahl), said the winter shutdown and an industrial recession would threaten the German economy unless urgent action is taken.

ThyssenKrupp Steel Europe's production has been cut as a possible recession reduces demand and rising energy prices undermine its international competitiveness.

ArcelorMittal, the world's second largest steelmaker, has shut down several steelmaking plants, including in Germany, predicting a 17% year-on-year decline in European production in the fourth quarter.

Belgian stainless steel producer Aperam's current monthly energy bill was equivalent to the annual cost of the past and had to stop production.