Steel production

In January-November, the country's steelmakers reduced steel production by 6% y/y

Austrian steel enterprises reduced steel production by 2.9% in November 2023 compared to the previous month, to 560 thousand tons. This is evidenced by data from the World Steel Association.

Compared to November 2022, Austrian steelmakers increased steel production by 0.5% in November 2023.

In January-November, Austria produced 6.53 million tons of steel, which is 6% less than in the same period in 2022.

In January-November, the average monthly steel production in Austria amounted to 593.45 thousand tons, while in the same period of 2022 the figure was 631.1 thousand tons (-5.96% y/y).

There are 5 steel plants in Austria, in particular, two blast furnace type (BF & BOF) in Donavwitz (annual capacity – 1.37 million tons of steel) and Linz (4.34 million tons/year), and three electric arc (EAF) – Graz (365,000 t/year), Kapfenberg (180,000 t/year), Metterdorf (300,000 t/year).

In 2022, Austrian steelmakers reduced steel production by 4.7% compared to 2021, to 7.51 million tons. In December 2022, 560 thousand tons of steel were produced, down 13.8% y/y and 0.5% m/m.

In general, steel production in the EU countries in November 2023 increased by 3.2% compared to November last year – up to 10.6 million tons. In January-November 2023, the EU produced 117.6 million tons of steel, down 7.8% y/y.

As GMK Center reported earlier, in 2022, European steelmakers reduced steel production by 10.5% compared to 2021, to 136.7 million tons. Overall, global steel production fell by 4.3% y/y last year – to 1.831 billion tons.