Germany reduced steel production by 7% in June

German steel enterprises in June 2022 reduced steel production by 7% compared to the same month in 2021, to 3.19 million tons.

German steel association WV Stahl reported about it.

According to the results of January-June, steel production decreased by 5.5% compared to the same period last year – to 19.56 million tons.

The output of German pig iron in June decreased by 7.9% compared to June 2021, to 1.94 million tons. According to the results of 6 months, pig iron decreased by 6%, to 12.24 million tons.

The production of hot-rolled steel decreased by 8% over the month, to 2.78 million tons, and in January-June – by 5.6%, to 17.25 million tons.

The deficit of German trade balance in May was €1 billion. It is the first monthly deficit in more than 30 years since 1991. Over the month, imports increased by 2.7%, to €126.7 billion compared to April, and exports fell by 0.5% – to €125.8 billion.

Germany is one of the top ten steel producers in the world according to World Steel. At the end of 2021, the country increased output of steel by 12.3% compared to 2020 – to 40.1 million tons, taking 8th place in the world rank of producers.