Italy increases its steel production

In March 2023, Italian steel enterprises increased their steel production volume by 2.6 percent compared to the same month of 2022, to 2.18 million tons.

Compared to February 2023, Italian steelmakers increased their steel output by 15.1% in March.

In March 2023, flat rolled product production in the country decreased by 7.1% compared to March 2022 and decreased to 917 thousand tons. Progressive rolled product production amounted to 1.3 million tons, up 3.3 percent y-o-y.

In January-March 2023, Italy reduced its steel production by 6% to 5.63 million tons, compared to the same period of 2022.

According to WorldSteel, steel production in EU countries decreased by 10.5 percent y-o-y to 136.7 million tons in 2022. Overall, world steel production decreased 4.3 percent y-o-y to 1.83 billion tons.

At the same time, the situation in the sector is improving since the beginning of 2023. Steel demand is gradually recovering and energy prices have stabilized. This allowed manufacturers to increase product prices and begin restoring suspended capacity. The sector's indicators are still far from last year, but the monthly dynamics of steel production are gradually increasing.