Germany

Official funding approval will be announced in the coming days

Pig iron production in the country decreased by 0.6% y/y in the first half of 2023

Planned maintenance at many EU steel mills will reduce the supply of steel on the market

After heavy rains and floods in Germany, the company warned of production cuts and delivery delays

In May, the production of pig iron in the country increased by 1.4% m/m

The fall is caused by a sharp reduction in steel production at electric steelmaking plants

The program is planned to be implemented over the next 15 years

The company will direct funds to the construction of a plant for the production of ecologically clean steel in Duisburg

The industry is dominated by pessimistic forecasts for the next 12 months

Currently, the government's price cap proposal applies to energy-intensive industries

In April, the production of pig iron in the country fell by 3.4% y/y

Analysts expected a decrease in the indicator by an average of 1.3%