Germany - Latest news GMK Center

Production of pig iron for the month increased by 4.4% y/y, and rolled steel – by 6.7% y/y

Analysts polled by Reuters had forecast growth of 0.2%

Last week, due to a sharp increase in spot prices, the German rebar factory Feralpi Stahl temporarily suspended work

Sales volumes of flat rolled products fell by 8.6% m/m, and of graded products – by 7.4% m/m

The country plans to provide financial guarantees that will allow investors to get more favorable loans

Pig iron production fell by 3.3% y/y, and rolled steel – by 3.4% y/y

The main part of the import fell on long-rolled goods – 206.5 thousand tons

The company plans to transform the enterprise in Bremen into an integrated electric steel smelting plant in the coming years

All generated electricity will be transferred to the needs of the plant

The state will finance the project in the amount of about €1.3 billion

Both technologies have been identified as critical components of the country's quest for carbon neutrality

The production of pig iron for the month increased by 1.2% y/y, and rolled steel – decreased by 0.1% y/y