9,179.48 TL BIST 100 BIST 100
4.35 CNY CNY CNY
31.13 $ USD USD
€33.79 EUR EUR
0.13 CNY CNY/EUR CNY/EUR
44.36 TL Interest Interest
83.30 $ Fossil Oil Fossil Oil
22.41 $ Silver Silver
3.84 $ Copper Copper
115.68 $ Iron Ore Iron Ore
394.00 $ Ship Dismantling Ship Dismantling
2,041.87 TL Gold (gr) Gold (gr)

Germany's steel production decreased in February

In February 2023, German steel enterprises reduced steel production by 6.9% compared to the same month of 2022, to 2.994 million tons. Compared to the previous month, the indicator increased by 2.3%.

Germany's steel production decreased in February

In February 2023, steel smelting in converters amounted 2.04 million tons, which is 4.9% less y-o-y and 4% less m-o-m, and reached 950 thousand tons (-10.8% per year) and +19.9% m/m) in electric arc furnaces (EAF).

Steel production at EAF is gradually increasing with the restoration of capacities suspended in the second half of last year due to an increase in the cost of electricity.

In February 2023, pig iron production in Germany decreased by 1.1% compared to February 2022 by 1.96 million tons and decreased by 0.05% compared to the previous month.

Production of hot rolled products in February decreased by 6.7% to 2.63 million tons and increased by 2.6% compared to January 2023.

Germany is among the ten largest steel producers in the world according to Worldsteel. In 2022, the country reduced its steel production by 8.4% compared to 2021 to 36.8 million tons and ranked 7th in the world producer countries.

The sharp increase in energy prices as a result of the Russia-Ukraine war has had a negative impact on Germany's steel industry. The cost of electricity and gas has increased sharply for all EU countries at a time when steel demand has collapsed. Manufacturers were forced to reduce production or reduce capacities to minimum volumes. By early 2023, demand had stabilized and prices began to increase, allowing steel producers to restart capacity gradually.

Despite the difficult situation, the German steel industry is gradually switching to the production of arc steel without electricity. In January 2022, the share of steel produced in electric arc furnaces reached 10.99 million tons (29.8%).

Comments

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

Zaporizhzhya Ferroalloy Plant continue to go on downtime in March

Wednesday, February 28, 2024

Global steel sheet markets remain flat; Türkiye's spot market recorded a decrease

Wednesday, February 28, 2024

New regulation for Canadian steel importers

Wednesday, February 28, 2024

In Brazil, flat steel sales increased on a monthly and yearly basis

Wednesday, February 28, 2024

China's iron ore futures recovered

Wednesday, February 28, 2024
Follow List
Expand
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