Germany reduced steel production by 1.9% y/y in May

German steelmakers reduced steel production by 1.9% in May 2024 compared to the same month in 2023, to 3.19 million tons. Compared to the previous month, the figure fell by 2.9%. This was reported by the German steel association WV Stahl.

On a monthly basis, steel production in Germany declined for the second month in a row. In May, steel production in converters decreased by 2.5% y/y and 2.7% m/m – to 2.23 million tons, and in electric arc furnaces (EAF) by 0.5% y/y and 3.4% m/m – to 954 thousand tons.

Pig iron production fell by 3.3% y/y and 3.1% m/m – to 2.03 million tons. Germany’s rolled steel output amounted to 2.65 million tons, down 3.4% y/y and 3% m/m.

In January-May, Germany increased steel production by 3.7% y/y – to 16.17 million tons, including 2.5% y/y in converters  – to 11.3 million tons, and 6.5% y/y in EAF – to 4.87 million tons. Pig iron production increased by 2.4% y/y – to 10.43 million tons. Rolled steel production increased by 2.3% y/y – to 13.95 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.