Germany

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Industrial production in Germany decreased by 3.1% m/m in December 2022

In 2022, the reduction amounted to 0.6% y/y

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The German rolled steel market is expecting an increase in production

Plants hope to improve the situation in March

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The EU should develop a scheme similar to the green subsidies of the USA — ThyssenKrupp

Energy prices may force European companies to relocate production

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German GDP decreased by 0.2% q/q in the fourth quarter of 2022

The unexpected reduction points to the beginning of a recession in one of Europe's largest economies

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Germany reduced scrap exports by 11% y/y in January-November 2022

In monetary terms, exports increased by 9.5% y/y in connection with the increase in scrap metal prices

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Germany reduced steel production by 14.6% y/y in December 2022

In 2022, German steelmakers reduced steel production by 8.4% y/y

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Germany’s economy increased by 1.9% in 2022

The economic situation was affected by the increase in energy prices and the war in Ukraine

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Electricity prices increased in most of Europe in December 2022

In 2022, the highest average monthly wholesale price in the EU was in August

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European steelmakers reduced steel production in November 2022

In Germany, steel output fell by 11.8% m/m, in Italy – by 7.9% m/m

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Germany cut steel production by 18% y/y in November 2022

In 11 months of 2022, German steelmakers reduced steel production by 7.9% y/y

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The reduction of electricity costs made it easier for German steelmakers

The autumn months adjusted the cost of electricity by an average of €300 MWh from the peak price in August 2022 – to €150 MWh

Eurofer
Germany has already spent €440 billion to combat the energy crisis

This figure is already almost comparable to approximately €480 billion, which the country has directed since 2020 to protect its economy from the impact of the coronavirus pandemic

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