In July this year, Germany’s crude steel output increased by 6.3 percent year on year to 3.14 million metric tons, according to the information provided by the German steel federation Wirtschaftsvereinigung Stahl (WV Stahl). In the January-July period this year, crude steel production in Germany went up by 4.7 percent year on year to 22.50 million mt.
Germany’s pig iron output amounted to 2.13 million mt in July this year, up 2.4 percent, while in the January-July period it increased by 2.7 percent to 14.57 million mt, both year on year.
The country’s hot rolled steel output increased by 2.5 percent to 2.60 million mt in July, while going up by 2.9 percent to 19.32 million mt in the first seven months this year, both compared to the same periods of the previous year.
Dr. Martin Theuringer, managing director and chief economist of the Germany Steel Association stated, “The slight upward movement in production in recent months is not a reason to sound the all-clear. Rather, 2024 will be a lost year for steel volumes. This is because concerns about a recession have increased across the economy. Many important steel processing industries and steel demand are still in reverse gear. In addition, import pressure continues to rise across Europe. Hopes for an economic recovery have now been completely postponed to 2025.”