Germany

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%

The price of electricity still affects the competitiveness of energy-intensive industries

Experts expected the country's economy to grow by at least 0.2% q/q

Sales of flat rolled products increased by 5.4% m/m, long products – by 11.6% m/m, and other steel products – by 17.9% m/m

In 2022, the company increased the production of steel products by 3.4% – up to 1.84 million tons – more than 1 million tons of thick rolled products were produced

In March, the production of pig iron in the country increased by 5.6% y/y

Subsidiary Iberdrola to supply 114 MW over 15 years starting in 2024

Steel industry will require investments of €16.7 billion

The first phase of the project is planned to be completed by the end of 2025

The company is working with the American bank Goldman Sachs to explore options for selling the division

Pig iron production in the country decreased by 1.1% y/y in February