In July 2024, France reduced its steel production by 8.8% compared to the same period of 2023 to 750 thousand tons. This decrease caused the country to decrease to 19th place in the global steel production ranking. Nevertheless, an increase of 3% was recorded compared to June, which is considered as a sign of recovery in the sector. In the January-July 2024 period, France's total steel production increased by 3.9% to 5.91 million tons.
In Spain, steel production decreased by 9.1% in July compared to the previous month to 900 thousand tons. This led the country to rank 16th in world steel production. However, an 8.8% increase in production compared to July 2023 is noteworthy. In the first seven months of the year, Spain increased its steel production by 4.7% to 7.04 million tons. The Spanish steel sector also showed an increase in average monthly production, reaching 1 million tons.
Germany's steel sector, on the other hand, increased production by 6.3% over the one-year period to 3.14 million tons in July 2024. However, there was a decrease of 1.3% compared to June. Steel production by converters in Germany increased by 4% on an annual basis, while electric arc furnaces recorded a decrease of 22.2%. In the January-July period, Germany increased its total steel production by 4.7% to 22.5 million tons.
These fluctuations in Europe's steel production are shaped by various factors such as the economic dynamics of the sector, energy costs and environmental regulations. The decrease in electric arc furnaces, especially in Germany, has led to comments that the increase in energy prices has negatively affected this production method. In France and Spain, on the other hand, the decreases in the global ranking despite the increase in production underline the need for more efficiency in international competition.
Comments
No comment yet.