Germany

The company will direct funds to the construction of a plant for the production of ecologically clean steel in Duisburg

The industry is dominated by pessimistic forecasts for the next 12 months

Currently, the government's price cap proposal applies to energy-intensive industries

In April, the production of pig iron in the country fell by 3.4% y/y

Analysts expected a decrease in the indicator by an average of 1.3%

The price of electricity still affects the competitiveness of energy-intensive industries

Experts expected the country's economy to grow by at least 0.2% q/q

Sales of flat rolled products increased by 5.4% m/m, long products – by 11.6% m/m, and other steel products – by 17.9% m/m

In 2022, the company increased the production of steel products by 3.4% – up to 1.84 million tons – more than 1 million tons of thick rolled products were produced

In March, the production of pig iron in the country increased by 5.6% y/y

Subsidiary Iberdrola to supply 114 MW over 15 years starting in 2024

Steel industry will require investments of €16.7 billion