9,193.69 TL BIST 100 BIST 100
31.31 $ USD USD
€33.89 EUR EUR
44.87 TL Interest Interest
82.24 $ Fossil Oil Fossil Oil
22.71 $ Silver Silver
3.84 $ Copper Copper
115.84 $ Iron Ore Iron Ore
392.00 $ Ship Dismantling Ship Dismantling
2,060.77 TL Gold (gr) Gold (gr)

Austria reduced steel production in February

In January-February, Austrian steel companies reduced their steel production by 11.2 percent y-o-y.

Austria reduced steel production in February

In February 2023, steel production in Austria decreased by 10.4% compared to the previous month and by 11.3% compared to February 2022. In the January-February 2023 period, the country's steel production decreased by 11.2% compared to the same period of 2022. Similarly, steel production in the European Union decreased by 12.6 percent in February 2023 compared to February 2022, and decreased by 14.3 percent in the January-February 2023 period compared to the same period of the previous year.

In 2022, Austrian and European steelmakers reduced their steel production due to increasing electricity tariffs and unfavorable market conditions, but restarted the discontinued capacities towards the end of 2022 and the beginning of 2023 as steel demand and product prices began to increase.

At the end of 2022 - the beginning of 2023, EU steelmakers started to restart capacities that were discontinued as apparent demand for steel and product prices increased and costs of energy sources decreased and stabilized. In addition, the industry anticipates further growth in demand for steel products.


No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Kazakhstan scrap export ban puts Russian metallurgy at risk

Friday, March 1, 2024

Exports of Russian square billets decreased by 12% in 2023

Friday, March 1, 2024

Thailand's scrap imports begin to recover in 2024

Friday, March 1, 2024

JSW Steel ventures into green steel manufacturing with new subsidiary

Friday, March 1, 2024

US hot-dip galvanized sheet imports increased

Friday, March 1, 2024
Follow List
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.

There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now