Spain: crude steel production decline slows in Feb

Spanish crude steel production declined 3% year on year to 942,000 mt in February, the smallest drop in 15 months, industry group Unesid data showed May 18.

Spain is Europe’s fourth largest steel producer, behind Germany, Italy and France with a maximum capacity of nearly 23 million mt.

Underlying steel production in Spain was at its lowest volume in two years, with 12.2 million mt produced in the last 12 months as of February, impacted by cost increases and reduced demand, according to Unesid data.

Spanish industrial production rose 5.6% year on year in March, compared with an average decline of 1.4% in the EU during the month, according to the Eurostat agency.

Spain’s steel recycling volume was unchanged on the year in February at 769,000 mt, after declining for 16 straight months, Unesid data showed.

Recycled volume tumbled 18% year on year to 9.62 million mt in the last 12 months as of February.

Platts, part of S&P Global Commodity Insights, assessed hot-rolled coil CIF Antwerp at a midpoint of Eur755/mt on May 17, down 2% on the day.

By the end of May, Spain’s largest producer ArcelorMittal de Espana is expected to start up a new line producing corrosion resistant steel for solar plants, newspaper La Nueva Espana reported May 18, citing company sources.

ArcelorMittal was not immediately available for comment on the La Nueva Espana report when contacted by S&P Global.

The company’s Gijon site is currently operating with just one of two blast furnaces after a fire in March, S&P Global reported earlier.

Platts assessed Northwest Europe hot-rolled coil at Eur870/mt ($937/mt) ex-works Ruhr on May 17, up from Eur640/mt from the start of 2023.