Italy reduced steel production by 15.1% y/y in November 2022

Italian steel enterprises in November 2022 reduced steel production by 15.1% compared to November last year – to 1.854 million tons. Compared to the previous month, the indicator decreased by 7.9% SteelOrbis reports about it with the reference to data from the Italian association of steel producers Federacciai.

In January-November 2022, Italian steelmakers reduced steel output by 11.2% compared to the same period in 2021 – to 20.35 million tons.

The production of flat products in Italy in November 2022 fell by 30.4% compared to November last year – to 731 thousand tons. For 11 months of 2022, the indicator decreased by 13.5% year-on-year – to 8.907 million tons.

The production of graded rolled products in Italy in November 2022 amounted to 1.104 million tons – to 9.5% less year-on-year. In the 11 months of 2022, the production of graded rolled products decreased by 11.3% y/y – to 10.37 million tons.

Some Italian long steel producers decided not to resume operations after maintenance shutdowns in August. Factories are forced to take such a step due to rising electricity prices, weak demand for domestic steel against high imports and low product prices.

All steelmakers in Europe suffer from the effects of the factors mentioned above. The leading steel producer ArcelorMittal has temporarily stopped or announced the stoppage of about 7 million tons of the corporation’s annual capacity across Europe. From October, the furnaces in Bremen (Germany), Hamburg and Asturias will be also stopped. Also the company postponed the launch of one of the blast furnaces at the Acería Compacta de Bizkaia plant in Spain.

Following ArcelorMittal, US Steel Kosice, Dunaferr, Liberty Ostrava, Ferroatlántica, Ferriere Nord and other have decided to reduce or stop capacity.

As GMK Center reported earlier, steel enterprises of Italy in 2021 increased steel production by 19.8% compared to 2020, to 24.4 million tons. The production of flat products in 2021 increased by 16.6% y/y – up to 11 million tons, and long products – by 21.8%, up to 13.6 million tons.