In June, Italian steelmakers reduced steel output by 0.7% y/y and 4.4% m/m

In January-June 2023, Italian steel enterprises reduced the volume of steel production by 6.6% compared to the same period in 2022 – to 11.44 million tons. SteelOrbis informs about it with the reference to data from the Italian association of steel producers Federacciai.

In June 2023, Italian steelmakers reduced steel output by 0.7% compared to June 2022, and by 4.4% compared to May – to 1.91 million tons.

The production of flat rolled products in the country in June 2023 increased by 8.7% compared to May 2022 – up to 861 thousand tons. The production of rolled products amounted to 1.04 million tons, which is 2.3% more y/y.

As GMK Center reported earlier, steel enterprises of Italy in 2022 reduced steel production by 11.5% compared to the same period of the previous year – to 21.6 million tons. In 2022, the production of rolled products in the country decreased by 12% y/y – to 12.03 million tons, flat rolled products -– 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% year-on-year – to 136.7 million tons. In general, steel production in the world fell by 4.3% y/y – to 1.83 billion tons. During the past year, the situation in European steel industry was affected by such factors as high prices for energy resources, high volatility of prices and demand, and a decrease in steel exports from the EU. They were partly caused by the military aggression of the Russian Federation against Ukraine.