Germany

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

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

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

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

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

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

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

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

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

Producers will reduce product prices amid falling electricity costs

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

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