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Production fell by 16.7% y/y

Blast furnace №2 at the French plant was shut down in December 2022

Governments and companies are still forced to act in the face of energy price volatility

In 2022, French steelmakers reduced steel production by 13.1% y/y

In Germany, steel output fell by 11.8% m/m, in Italy – by 7.9% m/m

In January-November, French steelmakers reduced steel production by 11.6% y/y

The base price of electricity in Germany for the day ahead on December 8 increased to €425/MWh

European prices in late November and early December were also affected by the decline in wind power capacity

In France it increased by 14.7%, in Germany – by 10.5%

In January-October, French steelmakers reduced steel production by 10.7% y/y

The decision is due to the drop in demand for steel and the high cost of energy

Quotations of rebar in Turkiye last week fell by 3.6%, in Italy – by 5.5%, in China – by 2.6%