Germany

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German MILS will receive state funding for research on steel decarbonization

The amount of the three-year grant is €5.5 million

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Germany reduced steel production by 15.4% y/y in September 2022

In January-September 2022, German steelmakers reduced steel output by 6% y/y

German rerollers fear bankruptcy due to energy costs

More than half of Germany's sheet steel producers could lose existing electricity contracts by 2023

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German scrap suppliers are concerned about high energy prices

The industry is preparing for a difficult fourth quarter in the scrap market

German steelmakers expect steel prices to fall in October 2022

Producers will reduce product prices amid falling electricity costs

Germany allocates €200 billion to overcome the energy crisis

The government will introduce mechanisms for an emergency reduction in gas prices and containment of electricity prices

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Germany cut steel production by 2.3% in August 2022

In January-August 2022, German steelmakers reduced steel output by 4.8%

247TailorSteel launched a new production facility in Langenau, Germany

This is the company's third production facility in Germany

ThyssenKrupp invests €2 billion in the production of green steel in Germany

The company plans to build a direct reducing iron unit at the Duisburg plant

ArcelorMittal to shut down the blast furnace at the Bremen plant in October

The company also announced the shutdown of the wire rod production plant in Hamburg

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Electricity prices in Germany have risen to a record €700

This level of prices is about 14 times higher than the seasonal average over the past five years

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Germany cut steel production by 6.9% in July

According to the results of January-July, German steelamakers reduced steel output by 5.1%

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