Austria increased steel production by 5.7% m/m in July

In January-July, steel output increased by 0.9% y/y

Austrian steelmakers increased steel production by 5.7% in July 2024 compared to June this year, to 669 thousand tonnes. The country was thus ranked 22nd in the global ranking of steel producing countries (71) by the WorldSteel Association.

Austrian steelmakers increased steel production by 2.3% compared to July 2023.

In January-July, Austria increased its steel production by 0.9% year-on-year – to 4.48 million tonnes. Average monthly steel production for the period was 640 kt, up from 634.1 kt a year earlier.

In January-July 2024, steel production in the European Union increased by 1.5% compared to January-July 2023, to 78 million tonnes. Global steel production for 7 months totalled 1.11 billion tonnes, down 0.7% year-on-year.

As a reminder, in 2023, Austria reduced steel production by 5% compared to 2022, to 7.13 million tonnes. The average monthly steel production was 594.4 kt, compared to 626 kt in the same period in 2022 (-5.04% y/y).

Voestalpine has 2 steel plants in Austria, including Voestalpine Stahl Linz with an annual capacity of 6 million tonnes of steel and Voestalpine Stahl Donawitz with an annual capacity of 1.57 million tonnes.

The total capacity of the plants is 7.57 million tonnes per annum. Thus, in 2023, capacity utilisation was 94.2%.