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

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

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

The base price of electricity in Germany for the day ahead on December 8 increased to €425/MWh

European prices in late November and early December were also affected by the decline in wind power capacity

From 2023, industry will receive 70% of annual gas consumption at a price of 7 euro cents/kWh

Inventories of steel products of all categories also decreased in October by 1% y/y – to 2.16 million tons

In France it increased by 14.7%, in Germany – by 10.5%

In 10 months of 2022, German steelmakers reduced steel output by 6.9% y/y

Amid correction in energy prices and weak demand, steel prices are forecast to decline during November

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

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