steel production - Latest news GMK Center

Steel production fell by 10.1% year-on-year in 10 months

The UK's industry will not be able to compete if it pays twice as much as the EU for electricity

The abolition of the export duty on steel in India may increase the import of cheaper products to the domestic market of Turkiye

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%

The share of energy costs in the steel industry increased from 7% to 27%

In general, on the European hot-rolled market trade of products is limited. Restocking is expected no earlier than next year

The available amounts of electricity are not enough to support production even at 20% capacity

In January-October, French steelmakers reduced steel production by 10.7% y/y

In January-October 2022, Spanish steelmakers produced 9.91 million tons of steel

The demand for ferrous scrap is growing due to the global development of electro steel industry in the framework of decarbonization

Total production in the CIS countries and Ukraine decreased by 23.7% y/y for the month