In the first ten months of the year, production went down by 4.1% to 30.11 million mt compared with the corresponding period of the previous year.
“The situation is becoming increasingly difficult,” Stahl noted for the electricity-intensive electrical steel production.
Steel production via EAF Electric Arc Furnace route fell by 20.9% in October to 799,000 mt year on year, and by 12.9% year to date to 8.4 million mt compared with the same period in 2022. Crude steel production via Blast Furnace route decreased by 3.1% last month to 2.08 million mt year on year and by 0.2% to 21.70 million mt from January to October compared with the same period a year before. October pig iron production went down by 4.7% to 1.86 million mt compared with the same month a year before and by 0.4% to 19.95 million mt year to date.
In October hot rolled steel production went down by 2.2% to 2.52 million mt year on year and by 4.7% to 26.07 million mt year to date.
At the beginning of October hot rolled-coils prices stood at 625/mt base ex-works Ruhr and decreased to Eur600/mt base ex-works on Oct. 26. Platts assessed hot-rolled coil in Northwest Europe down Eur5/mt on the day at Eur660/mt ($722.172/mt) ex-works Ruhr Nov. 20. The price rose due to restoking and production cuts.
With around 40 million tons per year, Germany has the largest steel production in Europe. Sthal is the voice of steel producing companies in Germany, which have set the goal of producing their steel in a CO2-neutral manner by 2045, thus saving a third of total industrial greenhouse gas emissions.