Production of pig iron for the month increased by 6.4% y/y, and rolled steel – by 8.4% y/y

In February 2024, German steel enterprises increased steel production by 4.4% compared to the same month in 2023 – to 3.12 million tons. Compared to the previous month, the indicator increased by 1.8%. German steel association WV Stahl reported about it.

Steel production in converters for the month increased by 5.1% y/y and decreased by 2.6% m/m – to 2.15 million tons, and in electric arc furnaces (EAF) – increased by 2.7% y/y and 13.1% m/m, up to 976 thousand tons.

Pig iron production increased by 6.4% y/y and fell by 1% m/m – to 2.03 million tons. The output of rolled steel in Germany amounted to 2.85 million tons, which is 8.4% more y/y and 4.7% m./m.

In January-February, Germany increased steel output by 4.6% y/y – up to 6.19 million tons, in particular in converters – by 4.3%, to 4.35 million tons, and EDP – by 5.6% y/y, to 1.84 million tons. Pig iron smelting increased by 5.5% y/y – up to 4.08 million tons. The production of rolled products increased by 7.3% y/y – up to 5.57 million tons.

«Steel production in Germany shows little signs of stabilization. For the second month in a row, the indicator has slightly increased year-on-year. This applies to both oxygen and electrical steel. The production volumes of the latter decreased significantly in 2022-2023,» WV Stahl said in a statement.

As GMK Center reported, Germany is among the ten largest steel producers in the world according to World Steel. In 2023, the country reduced output of steel by 3.9% compared to 2022 – to 35.4 million tons, taking 8th place in the world ranking of producing countries.

Steel production in converters fell by 0.9% y/y over the year – to 25.63 million tons, and in electric arc furnaces – by 10.8% y/y, to 9.81 million tons. Pig iron production decreased by 0.9% y/y, to 23.63 million t. The output of rolled steel amounted to 30.64 million tons, which is 3.6% less y/y.