Italian crude steel output plummets

Italian crude steel output fell again significantly in July after a series of declines seen since the beginning of the year, according to data issued by local steelmakers association Federacciai.

Last month, crude steel production declined by as much as 27.1% year-on-year to 1.6 million tonnes, and by 7.3% on-year over the first seven months of 2022 to 13.8mt, Kallanish notes.

Italian flat steel production also tumbled in July, by 17.3% to 796,000t, and by 5.2% in January-July to 6.2mt. Longs output decreased last month by as much as 30.5% to 888,000t, and by 9% in the first seven months to 7.6mt, Federacciai says.

Crude steel output in 2021 rose by 19.8% on-year to 24.4mt.

Some Italian producers are not resuming production after longer-than-usual maintenance stoppages in August. All flats and longs steelmakers are heavily reducing output to address the issue of overcapacity and low demand, but also to cut current unsustainable energy bills (see Kallanish 30 August newsletter).

Natalia Capra France