Austria reduced steel production by 4% y/y in the first half of 2023

In June, Austrian steel companies increased steel output by 2.7% y/y, but decreased it by 1.8% m/m

In January-June 2023, Austrian steel enterprises reduced steel production by 4% compared to the same period in 2022 – to 3.78 million tons. World Steel Association’s data informs about it.

In June 2023, Austrian steelmakers produced 648,000 tons of steel. This is 2.7% more than in June 2022, but 1.8% less than in May 2023.

Average monthly steel production in Austria in January-June totaled 630.8 thousand tons, while for the same period in 2022 the indicator was at the level of 656.8 thousand tons (-3.9% y/y).

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

In 2022, Austrian steelmakers reduced steel production by 4.7% compared to 2021 – to 7.51 million tons. In December 2022, 560,000 tons of steel were produced, which is 13.8% less y/y and by 0.5% more m/m.

In general, steel production in the countries of the European Union in June 2023 fell by 11.1% compared to June last year – to 10.6 million tons. In January-June 2023, 66.3 million tons of steel were produced in the EU, which is 10.9% less 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. In general, global steel output last year fell by 4.3% y/y – to 1.831 billion tons.