Germany produced 2.7 million tons of steel in November

In November 2023, German steel enterprises reduced steel production by 2.4% compared to October last year – to 2.7 million tons. Compared to the previous month, the indicator decreased by 6.2%. German steel association WV Stahl reported about it.

Steel smelting in converters decreased by 6.7% y/y for the month and by 11.9% m/m – to 1.83 million tons, and in electric arc furnaces (EAF) – increased by 8.1% y/y and by 9% m/m – to 871,000 tons. Pig iron production in Germany decreased by 5% y/y in November and by 6.1% m/m – to 1.75 million tons. The output of rolled steel amounted to 2.3 million tons, which is 1.7% more y/y and 8.7% m/m.

In January-November, German steelmakers reduced steel output by 4% compared to the same period in 2022 – to 32.81 million tons, in particular:

• in converters – 23.53 million tons (-0.7% y/y);
• in EAF – 9.27 million tons (-11.3% y/y).

Pig iron smelting during the period fell by 0.8% y/y – to 21.69 million tons. Rolled steel production decreased by 4.3% y/y, to 28.37 million tons.

«At the end of 2023, the steel industry in Germany continued to show a downward trend in steel production. In November, production fell by another 2% m/m. Overall, the country is expected to lose 4% of its steel production for the year after falling by 8% in 2022. This means that 2023, with 35.5 million tons of steel produced, is likely to be one of the worst years for the German steel industry. Only 2009, the year of the financial crisis, was even lower,» WV Stahl comments.

As GMK Center reported, Germany is among the ten largest steel producers in the world according to World Steel. In 2022, the country reduced output of steel by 8.4% compared to 2021 – to 36.8 million tons, taking 7th place in the world ranking of producing countries.