SteelRadar data revealed that ArcelorMittal, one of the world's largest steel producers centered in Luxembourg and shipping its products all over the world, has experienced a decline in steel production in the last three years. While the company produced 79.2 metric tons of steel in 2021, its production decreased to 68.89 metric tons in 2022 and 64.85 metric tons in 2023.
It was also observed that Stahlbeteiligungen Holding S.A., another steel producer based in Luxembourg, produced 5.71 mt of steel in 2021, but realized its steel production as 5.07 mt in 2022.
Europe's steel production has decreased in the last two years
Steel production has been in decline across Europe, and leading steel producers have been among those hit by the downturn. Based in Germany and with a global influence;
It was recorded that Thyssenkrupp, Salzgitter Group, Huttenwerke Krupp Mannesmann companies experienced a decline in steel production as a result of 2021 and 2022 data and;
- Thyssenkrupp reduced its steel production from 11.04 mt in 2021 to 9.93 mt in 2022,
- Salzgitter Group produced 6.75 mt of steel in 2021 and ended the year with 6.11 mt of steel in 2022.
- Huttenwerke's steel production decreased from 5.96 mt in 2021 to 4.51 mt in 2022.
Many producers in Germany have been forced to cut production in order to stem the decline in steel prices, sources told SteelRadar. The situation is similar in Austria, Germany's neighboring country, where Voestalpine Group produced 7.86 mt of steel in 2021, but in 2022 steel production dropped to 7.42 mt.
The situation is different at Italy's leading steel producer; An increase was recorded
Acciaieria Arvedi SpA, based in Italy, produced 3.01 mt of steel in 2021 and 3.12 mt in 2022.
Compared to Italy, CELSA Steel Group, based in Spain, experienced a decrease in steel production, producing 6.59 mt of steel in 2021 and 5.52 mt in 2022, according to the data.
Northern European steel production also experienced a decrease
The production situation in Northern Europe was the same, with Sweden's leading SSAB producing 8.18 mt of steel in 2021 and 7.29 mt in 2022.
Comments
No comment yet.