Austria produced 7.1 million tons of steel in 2024

Austrian steelmakers produced 7.1 million tons of steel in 2024, the same as in 2023. Thus, the country ranked 23rd in the global ranking of steel producing countries (71), while in 2023 it was 22nd, according to World Steel.

The Austrian steel industry stabilized its performance in 2024 after the downturn in 2022, including:

• 2020 – 6.7 million tons;
• 2021 – 7.9 million tons;
• 2022 – 7.5 million tons;
• 2023 – 7.1 million tons.

Austrian steel production in 2020-2024 was affected by both internal and external factors. After growing in 2021, the industry faced a decline due to the energy crisis and rising production costs in 2022. In 2023-2024, the situation stabilized as companies adapted to the new economic environment, including cost optimization and investments in decarbonization of production in line with EU requirements. At the same time, weak demand for steel in Europe and global economic uncertainty restrained further production growth.

Overall, steel production in the European Union increased by 2.6% in 2024 compared to 2023 to 129.5 million tons. Global steel production for the year amounted to 1.84 billion tons, down 0.9% year-on-year.

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