Germany

The German government agreed on the details of the scheme for overcoming the energy crisis

From 2023, industry will receive 70% of annual gas consumption at a price of 7 euro cents/kWh

Steel sales in Germany fell to a 10-month low in October

Inventories of steel products of all categories also decreased in October by 1% y/y – to 2.16 million tons

Some European countries increased steel production in October 2022

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

Germany reduced steel production by 14.4% y/y in October 2022

In 10 months of 2022, German steelmakers reduced steel output by 6.9% y/y

German steelmakers expect further decline in steel prices and stocks

Amid correction in energy prices and weak demand, steel prices are forecast to decline during November

German MILS will receive state funding for research on steel decarbonization

The amount of the three-year grant is €5.5 million

Germany reduced steel production by 15.4% y/y in September 2022

In January-September 2022, German steelmakers reduced steel output by 6% y/y

German rerollers fear bankruptcy due to energy costs

More than half of Germany's sheet steel producers could lose existing electricity contracts by 2023

German scrap suppliers are concerned about high energy prices

The industry is preparing for a difficult fourth quarter in the scrap market

German steelmakers expect steel prices to fall in October 2022

Producers will reduce product prices amid falling electricity costs

Germany allocates €200 billion to overcome the energy crisis

The government will introduce mechanisms for an emergency reduction in gas prices and containment of electricity prices

Germany cut steel production by 2.3% in August 2022

In January-August 2022, German steelmakers reduced steel output by 4.8%

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