Belgium reduced steel production by 9.3% m/m in February

In February 2023, Belgian steel enterprises reduced steel production by 9.3% compared to the previous month – to 535,000 tons. On an annual basis, steel production in the country decreased by 0.7% in February. This is evidenced by WorldSteel Association’s data.

In January-February 2023, steel production in Belgium amounted to 1.12 million tons, which is 1.3% less than in the same period of 2022.

In 2022, Belgian steelmakers reduced steel production by 0.4% compared to 2021 – to 6.94 million tons. In December 2022, 667,000 tons of steel were produced, which is 13.8% more y/y and by 28.3% m/m.

In general, steel production in the countries of the European Union in February 2023 fell by 12.6% compared to February last year – to 10.5 million tons. In January-February 2023, 20.7 million tons of steel were produced in the EU, which is 14.3% less y/y.

During the second half of 2022, European steelmakers massively reduced production capacity amid rising electricity tariffs and unfavorable market conditions. At the same time, the European market was filled with imported steel products, which attracted consumers at lower prices than local ones. According to Fastmarkets estimates, at the end of 2022, about 14-15 million tons of annual steel capacities were stopped in Europe.

Already at the end of 2022 – beginning of 2023, EU steelmakers began to restart the stopped capacities, as the visible demand for steel and product prices began to grow, and the costs of energy resources – decreased and stabilized. In addition, the industry predicts further growth in demand for steel products.

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.

  • Global Market

Turkey increased steel production by 7% y/y in April

In April 2025, steel enterprises in Turkey increased steel production by 7% compared to April…

Saturday May 31, 2025
  • Global Market

EU imposes final anti-dumping duties on tinplate from China

The European Commission (EC) has announced its decision to impose final anti-dumping duties on imports…

Friday May 30, 2025
  • Companies

Poland’s JSW exceeded plans for coal production and sales in Q1

Poland's Jastrzębska Spółka Węglowa (JSW), the largest coking coal producer in the EU, has announced…

Friday May 30, 2025
  • Global Market

Turkey increased steel exports by 14.4% y/y in April

In April, Turkey increased steel exports by 14.4% y/y – to 1.2 million tons. In…

Friday May 30, 2025
  • Global Market

The EU has almost exhausted its annual quota for imports of Russian pig iron in 3 months

In the first quarter of 2025, European companies almost exhausted the annual quota for imports…

Friday May 30, 2025
  • Companies

Nippon Steel to invest $6 billion in electric arc furnaces at three plants in Japan

Japanese steelmaker Nippon Steel plans to invest almost JPY870 billion ($6.05 billion) in the introduction…

Friday May 30, 2025