In January-September 2022, German steelmakers reduced steel output by 6% y/y

German steel enterprises in September 2022 reduced steel production by 15.4% compared to the same month in 2021 – to 2.84 million tons. German steel association WV Stahl reports about it.

In September 2022, steel production in converters amounted to 1.98 million tons, which is 11.2% less y/y, and in electric arc furnaces – 866 thousand tons (-23.8% y/y).

In January-September 2022, steel production decreased by 6% compared to the same period in 2021 – to 28.25 million tons. Converter steel production amounted to 19.61 million tons (-5.3% to January-September 2021), and electric arc furnances – 8.64 million tons (-7.5%).

Pig iron production in Germany in September 2022 decreased by 5.8% to September 2021 – to 1.89 million tons, in 9 months – by 4.5%, to 18.06 million tons.

The output of hot-rolled products for the month decreased by 10.6% – to 2.65 million tons, and inf January-September – by 5.7%, to 25.01 million tons.

As GMK Center reported earlier, EUROFER association in May has adjusted its forecast for the consumption of metal products in the European Union in 2022.Compared to the February forecast and the expectation of regional metal consumption growth of 3.2%, the association now expects a decline of 1.9%.

WorldSteel expects decline in world steel consumption in 2022 by 2.3% compared to 2021 – to 1.796 billion tons. In 2023, steel demand is expected to increase slightly thanks to the infrastructure industry by 1.0% – to 1.814 billion tons.

Due to the drop in demand in almost all major regional markets in the world, the decline of steel production continues. In August 2022, global steel output decreased by 3% compared to August 2021 – to 150.6 million tons.

According to World Steel, Germany is one of the ten largest steel producers in the world. In 2021, the country increased output of steel by 12.3% compared to 2020 – up to 40.1 million tons, ranking 8th in the world ranking of producers.