The latest situation of the steel market has led many major steel producers, including Salzgitter, Liberty, Acciaierie d'Italia, to cut their production consecutively in the last two months. This period is expected to be extended until December.
In addition, Italian steel mill Arvedi Group stated that it will cease steel production in December at companies from major steelmakers such as SSAB and Bochum in the Netherlands and ThyssenKrupp in Germany.
The European steel association (Eurofer) recently stated in the report that EU member states' crude steel production in 2022 will fall by 3.5 percent year on year to 145 million tons. In this case, it is predicted that there will be a more significant decrease than previously expected.
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