Italy reduced steel production by 2.5% y/y in 2023

In 2023, Italian steelmakers reduced steel production by 2.5% compared to 2022, to 21.06 million tons. The decline in steel production occurred amid declining global demand for steel products and high energy costs. This is reported by SteelOrbis with reference to the data of the Italian steel producers’ association Federacciai.

Production of long products for the year amounted to 11.68 million tons, which is 2.9% less compared to 2022, and flat products – 9.54 million tons (-0.1% y/y).

In December, Italian steelmakers increased steel production by 6.5% compared to December 2022 and decreased by 29.5% compared to November – to 1.33 million tons. Production of long products amounted to 694 thousand tons, up 5% y/y, but down 36.9% m/m. Flat products output in December decreased by 3.9% y/y and 27.5% m/m – to 615 thousand tons.

In 2022, Italian steelmakers reduced steel production by 11.5% year-on-year – to 21.6 million tons. In 2022, the country’s long products output decreased by 12% y/y – to 12.03 million tons, and flat products output decreased by 13.8% y/y – to 9.55 million tons.

According to the WorldSteel Association, steel production in the EU countries in 2022 decreased by 10.5% y/y – to 136.7 million tons. In general, global steel production fell by 4.3% y/y – to 1.83 billion tons. In 2022, the situation in the European steel industry was affected by factors such as high energy prices, high price and demand volatility, and a decline in EU steel exports. These were partly caused by Russia’s military aggression against Ukraine.