In Germany, this decline was 2.9% compared to April. These data were released by the German Steel Association WV Stahl.Germany's steel production fell for the second consecutive month on a monthly basis. In May, steel production in converters fell by 2.5% y/y to 2.23 million tonnes and in electric arc furnaces (EAF) by 0.5% to 954 thousand tonnes. These figures were down by 2.7% and 3.4%, respectively, compared to the previous month. In contrast, Germany's total steel production in January-May 2024 increased by 3.7% to 16.17 million tonnes. In this period, steel production in converters increased by 2.5% to 11.3 million tonnes and in EAFs by 6.5% to 4.87 million tonnes. In the same period, pig iron production increased by 2.4% to 10.43 million tonnes and rolled steel production increased by 2.3% to 13.95 million tonnes. The decline in Germany's steel production reflects the slowdown in the country's economic growth and industrial production.
An increase experienced in steel production in Poland…
In May 2024, Polish steelmakers increased production by 5.3% month-on-month to 614 thousand tonnes. This increase brought Poland to 23rd place in the World Steel Association's ranking of global steel producers. Compared to the same month last year, steel production in Poland increased by 15.4 per cent.
Between January and May 2024, Poland increased its steel production by 2.1% y/y to 2.98 million tonnes. The fact that some countries, such as Poland, have achieved production growth reveals that the steel industry in the region has a dynamic and volatile structure. The five-month average steel production was 596.8 thousand tonnes in 2024, compared with 630 thousand tonnes in the same period of the previous year, representing a year-on-year decrease of 5.3%.
Overall, steel production in the European Union dropped by 0.1% annually to 56.1 million tonnes in January-May 2024. Global steel production similarly declined by 0.1% to 793.2 million tonnes.
Comments
No comment yet.