Germany increased steel production by 8.4% y/y in March

Pig iron production increased by 3.5% y/y for the month, and rolled steel – by 1% y/y

German steelmakers increased steel production by 8.4% in March 2024 compared to the same month in 2023, to 3.51 million tons. The figure increased by 12.5% compared to the previous month. This was reported by the German steel association WV Stahl.

Steel production in converters for the month increased by 5.1% y/y and 12.6% m/m – to 2.42 million tons, and in electric arc furnaces (EAF) – increased by 16.4% y/y and 11.7% m/m – to 1.09 million tons.

Pig iron production increased by 3.5% y/y and 9.8% m/m – to 2.23 million tons. Germany produced 3.01 million tons of rolled steel, up 1% y/y and 5.5% m/m.

In January-March, Germany increased steel production by 6% y/y – to 9.7 million tons, including 4.6% in converters to 6.77 million tons, and 9.4% y/y in EAF – to 2.93 million tons. Pig iron production increased by 4.8% y/y – to 6.31 million tons. Rolled steel production increased by 5% y/y – to 8.57 million tons.

As GMK Center reported earlier, Germany is among the ten largest steel producers in the world according to World Steel. In 2023, the country decreased steel production by 3.9% year-on-year – to 35.4 million tons, ranking 8th in the global ranking of producing countries.

Steel production in converters decreased by 0.9% y/y – 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 tons. Rolled steel output amounted to 30.64 million tons, down 3.6% y/y.