Germany - Latest news GMK Center

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

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

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

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

Plants hope to improve the situation in March

Energy prices may force European companies to relocate production

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

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

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

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

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

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