Production of crude steel in Germany decreased in January-October

Developments in Germany's steel sector have emphasized the changes with the announcements made by the German Steel Industry Federation (Wirtschaftsvereinigung Stahl). According to data for the January-October period, crude steel production in Germany declined by 4.1%.

WV Stahl reported that crude steel production in October 2023 decreased by 8.8% y-o-y to 2.88 million tons, up 4.7% in the first two quarters and 0.4% y-o-y to a total of 19.94 million tons. However, this upward trend declined in the later months of the year.

Moreover, hot-rolled steel production in Germany reached 2.52 million tons in October, up 2.2%. This reflects a total output of 26.07 million tons in the first ten months of the year, up 4.7% compared to the same period last year.