Austria's June steel production increased y-o-y

According to the data, Austrian steelmakers reduced crude steel production in June compared to the previous month.

Production decreased by 1.8% compared to May to 648,000 tonnes, while it increased by 2.7% yoy.

In January-June, the country produced 3.78 million tonnes of steel, down 4% y-o-y.

Austria cut its steel output by 4.7% y-o-y to 7.51 million tonnes in 2022.

In June, total EU production decreased by 11.1% y-o-y to 10.6 million tonnes. In the January-June period, EU steelmakers produced 66.3 million tonnes, down 10.9% y-o-y.

Austria's largest steelmaker voestalpine expects good earnings after a strong fiscal year 2022/23. It recorded the highest level of revenue and the best operating result in its history, even surpassing its record year in 2021/22. The Austrian group's revenue increased 22.1% y-o-y to €18.2 billion ($19.2 billion), while Ebitda increased from €2.3 billion to €2.5 billion.

Expectations are more cautious due to the war in Ukraine and more persistent than expected inflation in both Europe and North America, among other geopolitical tensions around the world, the company said in June. The company still expects Ebitda to reach EUR 1.7-1.9 billion in the current financial year.