France reduced its steel production in March

In March 2023, steel mills in France reduced steel production by 16.1% to 652 thousand tons compared to February 2023.

As of March 2023, steel production in France decreased by 46.4% y-o-y.

Between January and March 2023, French steelmakers produced 2.33 million tons of steel, 32% less than in the same period last year.

In 2022, France reduced its steel production by 26% compared to 2021, to 12.12 million tons.

Overall, steel production in the European Union in March 2023 decreased by 5.6% compared to March last year to 11.9 million tons. Between January and March 2023, 33.1 million tons of steel were produced in the EU, 10.1% less than in the same period last year.

With apparent steel demand and product prices starting to increase and the costs of energy resources decreasing and stabilizing, EU steelmakers have started to restart capacities that were stopped in late 2022 - early 2023. In addition, the industry anticipates further growth in demand for steel products.