Germany

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Germany reduced steel production by 10.2% y/y in January 2023

Pig iron production in the country decreased by 7.9% y/y in January

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The European Commission approved state support of ArcelorMittal from Germany and Spain for €515 million

The funds will go to support the company's projects on decarbonization of steel production

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German steel industry needs state support for a green transition

The first agreements on climate measures with steel companies will be concluded in the coming months

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Electricity prices in Europe fell significantly in January 2023

Governments and companies are still forced to act in the face of energy price volatility

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German steelmakers are worried about a possible future scrap shortage

A shortage of scrap could hamper the steel industry's ambitions for decarbonisation

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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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