German
steel industry has slightly increased production in the first half-year
The steel industry in Germany slightly increased
its production in the first half of the year. Rohstahl production was 19.4
million tonnes higher in the first six months compared to the previous year's
period, according to the Economic Association of the Steel Industry (WV Stahl)
announced on a Wednesday. However, there is no reason to rejoice, the
association stressed, representing heavyweights such as Thyssenkrupp,
Salzgitter, and ArcelorMittal.
"It seems that the
lowest point has been passed through in rohstahl production. However, it
remains questionable how sustainable this development is", stated the CEO
of the Economic Association of the Steel Industry, Kerstin Maria Rippel. Even
after 2023, the weakest demand year since the financial crisis, the steel
industry still lacked essential demand impulses from important steel-processing
industries. In particular, the machinery industry, automobile industry, and
construction industry continued to struggle with weak international demand, the
crisis in the housing market, and lacking domestic and EU investments. In
addition, high energy costs were a burden for manufacturers.
- Despite the rise in
production in the steel industry in Germany during the first half of the
year, reaching a surplus of 19.4 million tonnes compared to the previous
year, the CEO of the Economic Association of the Steel Industry expressed
doubts about the sustainability of this development.
- The increase in
production in the German steel industry, with Rohstahl production reaching
over 50 million tonnes in the first half of the year, has not eradicated
the steel industry's need for essential demand impulses, even after the
weakest demand year since the financial crisis in 2023.
- With Germany's steel
industry showing a significant increase in production during the first
half of the year, collecting more than half a billion tons, the high
energy costs still pose a challenge for manufacturers operating in the
steel industry.