During January-November, Italian steelmakers reduced steel output by 3% m/m

Italian steelmakers reduced steel production by 6.7% – to 1.8 million tons in November 2023 compared to the previous month. This is reported by Kallanish with reference to data from the Italian steel producers’ association Federacciai.

Compared to November 2022, Italian steelmakers increased steel production by 1.3% in November 2023.

Flat products production in the country in November 2023 increased by 15.4% compared to November 2022, but fell by 6.2% m/m – to 848 thousand tons. Long products production amounted to 1.1 million tons, down 0.1% year-on-year and 0.9% m/m.

In January-November 2023, Italy reduced steel production by 3% compared to the same period in 2022, to 19 million tons. In particular, the output of flat products increased by 0.2% y/y – to 8.9 million tons, while long products decreased by 3.3% y/y – to 10.9 million tons.

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

As GMK Center reported earlier, according to the WorldSteel Association, steel production in the EU countries decreased by 10.5% y/y last year – to 136.7 million tons. Overall, global steel production fell by 4.3% y/y – to 1.83 billion tons. Last year, the European steel industry was affected by such factors 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.