June production was 14.2% lower than the same month in 2021
Steel enterprises of Italy in January-June reduced steel production by 4%, to 12.2 million tons. June production was 14.2% lower than in the same month in 2021 and amounted to 1.87 million tons of steel. SteelOrbis informs about it with the reference to the data of the Italian federation of steel companies Federacciai.
About individual segments, in January-June the production of graded rolled steel products amounted to 6.78 million tons, which is 5.2% less, and the production of flat steel products – 5.44 million tons, which is 3.1% lower than in the same period last year.
Production of graded rolled steel products in June this year in Italy amounted to 1 million tons, which is 23.2% less, and the production of flat products – 788 thousand tons, having decreased by 15.1% year on year.
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 estimates, the consumption of steel 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.
As GMK Center reported earlier, Italian iron&steel enterprises following the results of 2021 increased steel production by 19.8% compared to 2020 – up to 24.4 million tons. The output of flat products in 2021 increased by 16.6% compared to 2020 –- up to 11 million tons, and graded rolled steel products –- by 21.8 %, up to 13.6 million tons.
The EUROFER association in May corrected its forecast for the consumption of steel products in the European Union in 2022. Compared to the February forecast and the expectation of a 3.2% increase in regional steel consumption, the association now expects a decline of 1.9%.