Austria produced 650 thousand tons of steel in May

Production decreased by 3% compared to May 2023, and increased by 2.7% m/m

Austrian steelmakers increased steel production by 2.7% in May 2024 compared to April this year, to 650 thousand tons. Thus, the country was ranked 21st in the global ranking of steel producing countries (71) by the WorldSteel Association.

Austrian steelmakers reduced steel production by 3% compared to May 2023.

In January-May, Austria increased its steel production by 1% compared to the same period in 2023, to 3.18 million tons. Average monthly steel production for this period amounted to 627.4 thousand tons compared to 635.4 thousand tons a year earlier.

Overall, steel production in the European Union in January-May 2024 decreased by 0.1% compared to January-May 2023 to 56.1 million tons. Global steel production for 5 months amounted to 793.2 million tons, down 0.1% y/y.

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

There are 2 Voestalpine steel plants in Austria, including Voestalpine Stahl Linz with a capacity of 6 million tons of steel per year and Voestalpine Stahl Donawitz with a capacity of 1.57 million tons per year.

The total capacity of the plants is 7.57 million tons per year. Thus, in 2023, capacity utilization was 94.2%.