Italy in January-May reduced steel production by 1.9%

Steel plants of Italy in January-May reduced steel production by 1.9%, to 10.35 million tons. May output was 0.6% lower than in May 2021, and amounted to 2.2 million tons of steel, SteelOrbis reported with reference to the data of the Italian federation of steel companies Federacciai.

In January-May, the production of long products decreased by 0.7%, to 5.8 million tons, and flat products – by 1.5%, to 4.6 million tons. In May, the production of long products fell by 9.4%, to 1.1 million tons, flat products – by 14.8%, to 871 thousand tons.

According to the World Steel Association (WSA), Italy, with 10.35 million tons of steel output in January-May, ranks 11th among 64 steel-producing countries. According to WSA calculations, the consumption of metal products in Italy in 2022-2023 will reach 25.4 and 26.3 million tons, which in dynamics is -2.1% and 3.5%, respectively.

Earlier reported GMK Center that in 2021, Italian steel plants increased steel production by 19.8% compared to 2020, to 24.4 million tons. The output of flat products in 2021 increased by 16.6% compared to 2020, to 11 million tons, and high-quality – by 21.8%, to 13.6 million tons.

EUROFER in May adjusted its forecast for the consumption of metal products in the European Union in 2022. Compared to the February forecast and the expectation of a 3.2% increase in regional metal consumption, the association now expects a decline of 1.9%.