In March 2023, German steel companies reduced their steel production by 2.7 percent compared to the same month of 2022, to 3.238 million tons, and the indicator increased by 8.1 percent compared to the previous month.
In March 2023, steel smelting in converters amounted to 2.3 million tons, up 3.7 percent y-o-y and 12.6 percent m-o-m. Steel production in the EAF is gradually increasing, with the restoration of capacities suspended in the second half of last year due to the increase in the cost of electricity.
Pig iron production in Germany in March 2023 increased by 2.15% compared to March 2022 to 2.15 million tons and increased by 10% compared to the previous month.
Hot rolled product production in March increased by 1.5% to 2.98 million tons, up 13.2% compared to February 2023.
In the first quarter, German steelmakers reduced their steel production by 6.6 percent y-o-y to 9.16 million tons, pig iron production decreased 1.2 percent ye-o-y to 6.07 million tons, and cut hot rolled products 6.2 percent y-o-y.
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