Germany

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Spain’s Iberdrola to supply green electricity to Salzgitter

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

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German industry will need €52 billion for decarbonization by 2050

Steel industry will require investments of €16.7 billion

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Salzgitter received €1 billion in funding to decarbonize steel production

The first phase of the project is planned to be completed by the end of 2025

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Thyssenkrupp renews efforts to sell steel division

The company is working with the American bank Goldman Sachs to explore options for selling the division

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Germany reduced steel production by 6.9% y/y in February

Pig iron production in the country decreased by 1.1% y/y in February

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Germany cut its scrap exports to a 13-year low in 2022

During the year, German scrap processors shipped 7.7 million tons of scrap

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German industry reduced greenhouse gas emissions by 10% in 2022

The decrease in carbon emissions in the industrial sector was mostly due to a decrease in production

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Electricity prices rose in most EU countries in February 2023

One factor was the rising cost of the carbon contract

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The United States will allocate $6 billion in grants to decarbonize industry

At the same time, Germany intends to launch a subsidy program to reduce emissions

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German steel producers expect a price increase in March

Buyers need to stock up, and import offers are currently limited

ArcelorMittal Bremen increases steel production

The company also plans to resume production at the Hamburg plant in the first half of 2023

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Germany’s GDP will decrease in the first quarter of 2023 — the central bank

In 2023, a slight slowdown of the country's economy is predicted

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