Germany reduced steel production by 8.6% m/m in August

Pig iron production fell by 7.4% m/m, and rolled steel – by 9.6% m/m

German steelmakers reduced steel production by 8.6% in August 2024 compared to the previous month, to 2.87 million tons. The figure increased by 0.5% compared to August 2023. This was reported by the German steel association WV Stahl.

Steel production in converters in August fell by 9.1% m/m and 0.1% y/y – to 2.14 million tons, and in electric arc furnaces (EAF) decreased by 7% m/m and increased by 2.3% y/y – to 0.73 million tons.

Pig iron production decreased by 7.4% m/m and increased by 0.3% y/y – to 1.97 million tons. Germany’s rolled steel output amounted to 2.35 million tons, down 9.6% m/m and 0.3% y/y.

In January-August, Germany increased steel production by 4% y/y– to 25.38 million tons, including 2.2% y/y in converters to 17.97 million tons, and 8.6% y/y in EAF – to 7.41 million tons. Pig iron production increased by 2.4% y/y – to 16.55 million tons. Rolled steel production increased by 2.6% y/y – to 21.67 million tons.

As GMK Center reported earlier, Germany is among the ten largest steel producers in the world according to World Steel. In 2023, the country decreased steel production by 3.9% year-on-year – to 35.4 million tons, ranking 8th in the global ranking of producing countries.

Steel production in converters decreased by 0.9% y/y – to 25.63 million tons, and in electric arc furnaces by 10.8% y/y – to 9.81 million tons. Pig iron production decreased by 0.9% y/y – to 23.63 million tons. Rolled steel output amounted to 30.64 million tons, down 3.6% y/y.