France

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%

Domestic rebar contracts in September 2022 were €880-910/t ex-works

During the next three months, the electric arc furnaces at the plant will not work for several days a week to save electricity

In November and December, the company will stop production at the plants in Fosse-sur-Mer and Agondanges