Germany

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

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