Germany reduced its steel production by 14.6% y-o-y in December 2022

In December 2022, German steel companies reduced their steel production by 14.6% compared to the same month of 2021, to 2.69 million tons. Compared to the previous month, the indicator decreased by 2.9%.

Steel production in Germany in 2022 decreased by 8.4% compared to 2021 to 36.85 million tons. Converter steel production amounted to 25.85 million tons (-8.2% as of 2021) and electric arc steel production - 10.99 million tons (-9%).

In 2022, steel smelting in the country has dropped to a minimum since 2009, due to the effects of the coronavirus and the war in Ukraine. The steel industry has suffered from high energy prices, breach of supply chains, weak demand and sharp increase in imports caused by Russia's invasion of Ukraine.