Austria's crude steel production decreased in April

Production was 651,477 tonnes, down 6.5% m-o-m and 0.8% y-o-y.

In the January-April period, the country produced 2.48 million tonnes of steel, down 6.3% y-o-y.

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

In April, the EU's total output decreased by 11% m-o-m to 11 million tonnes. In the January-April period, European steelmakers produced 44.4 million tonnes, down 10.2% y-o-y.

This year, EU steelmakers started to restart capacity shut down in the fourth quarter of last year, as steel demand and product prices started to increase while energy costs decreased and stabilised. However, the market started to decrease again in the second quarter. Prices are decreasing due to the severe stagnation in purchasing activity and decreasing import values.