German mills in July produced around 3.1 million tonnes of steel, 6.3% more than in July 2023, Kallanish learns from national steel federation WV Stahl.
July thus continued the slight upward trend seen in the first half of the year, with year-on-year tonnage increases in most months, the federation notes. In the period from January through July, production totalled 22.5m tonnes, up 4.7% y-o-y. However, the federation warns of early optimism, in view of an altogether subdued long-term level.
“The surge of the preceding months from a low level gives no reason for a relief,” says WV Stahl managing director Martin Theuringer. “On the contrary, 2024 will be a lost year for the recovery of volume production. The worries about an economic recession have grown, and demand is still declining. This, plus further increasing pressure from imports are postponing hopes for a recovery of business completely into 2025.”
Due to a relief from the peak of power prices seen in 2023, the electric arc furnace route saw a stronger relative y-o-y surge in the first seven months of 13.8%, to 6.7mt.
Christian Koehl Germany