Spain increased steel production by 9.9% y/y in May

Spanish steelmakers increased steel production by 9.9% in May 2024 compared to the same month in 2023, to 1.11 million tons. Thus, the country was ranked 16th in the global ranking of steel producing countries (71) by the WorldSteel Association.

Spanish steelmakers reduced steel production by 1.1% compared to April 2024.

In January-May 2024, Spain increased steel production by 3.3% compared to the same period in 2023, to 5.15 million tons. Average monthly steel production for 5 months amounted to 1.03 million tons compared to 995.8 thousand tons a year earlier.

Overall, steel production in the European Union in January-May 2024 decreased by 0.1% compared to January-May 2023 to 56.1 million tons. Global steel production for 5 months amounted to 793.2 million tons, down 0.1% y/y.

As a reminder, in 2023, Spain reduced steel production by 2.7% compared to 2022, to 11.26 million tons. The average monthly steel production amounted to 938.5 thousand tons, while in the same period of 2022 the figure was 964.42 thousand tons (-2.69% y/y).

There are 14 operating steel mills in Spain: Megasa Siderúrgica Narón (capacity of 700 thousand tons of steel per year), ArcelorMittal Asturias (Gijón) (1.2 million tons per year), ArcelorMittal Asturias (Aviles) (4.2 million tons per year), Celsa Global Steel Wire Santander (750 ths t/y), Sidenor Aceros Especial Basuri (750 ths t/y), Sidenor Aceros Especiales Basuri (740 ths t/y), ArcelorMittal Sestao (2 mln t/y), Celsa Nervacero (1 mln t/y), ArcelorMittal Olaberria-Bergara (1.45 mln t/y), Megasider Zaragoza (500 ths t/y), Celsa Barcelona Castellbisbal (2.5 mln t/y), Grupo Gallardo Corrugados Getafe (600 ths t/y), Grupo Gallardo Siderurgica Balboa Jerez de los Caballeros (1.3 mln t/y), Riva Siderurgica Sevillana (1.3 mln t/y), Acerinox Europa Los Barrios (1.2 mln t/y).

The total capacity of the plants is 19.44 million tons per year. Thus, in 2023, capacity utilization was 58%.