Italy increased steel production by 9% m/m in October

In October 2024, Italian steelmakers increased steel production by 9% compared to the previous month – to 1.96 million tons. The figure increased by 2.2% compared to the same period in 2023. This is reported by SteelOrbis with reference to data from the Italian Federation of Steelworkers Federacciai.

Production of long products for the month increased by 0.6% compared to October 2023 and remained at the level of the previous month – 1.1 million tons. Flat products output amounted to 794 thousand tons, down 12.3% y/y and up 5.2% m/m.

In January-October 2024, Italian steelmakers reduced steel production by 4.7% compared to the same period in 2023, to 17 million tons. Production of long products amounted to 9.9 million tons (+0.5% y/y), and flat products – 7.2 million tons (-10.5% y/y).

In 2023, Italian steelmakers reduced steel production by 2.5% compared to 2022, to 21.06 million tons. The decline in steel production was driven by a decline in global demand for steel products and high energy costs.

Long products production for the year amounted to 11.68 million tons, down 2.9% compared to 2022, and flat production amounted to 9.54 million tons (-0.1% y/y).

In total, the EU produced 126.3 million tons of steel in 2023, down 7.4% y/y. In December, the EU countries increased steel production by 2.7% compared to December 2022 – up to 9.1 million tons.