Federacciai reports that, the Federation of Italian Steel Companies, indicates rolled product production decreased by 8.3%, while flat product production increased by 0.5%. While Italy's long product production saw a 5.6% increase compared to June 2023, it fell by 8.3% on a monthly basis, reaching 1.1 million tonnes. Flat product production, despite a 11.2% decrease compared to the previous year, saw a 0.5% increase compared to the previous month, reaching 769,000 tonnes.
In the first six months of 2024, Italian steel producers produced 10.84 million tonnes of steel, representing a 5.2% decline compared to the same period in 2023. Long product production reached 6.4 million tonnes (a 0.2% increase), while flat product production reached 4.5 million tonnes (a 9.5% decrease).
In 2023, Italian steel producers produced 21.06 million tonnes of steel, a 2.5% decrease compared to 2022. The EU, on the other hand, produced a total of 126.3 million tonnes of steel in 2023, representing a 7.4% decrease compared to 2022.
The decline experienced by Italy's steel sector can be attributed to global economic uncertainty and rising energy costs. The future of Italy's steel sector hinges on global demand shifts, energy costs, and the EU's ability to sustain its production increase. The impact of these factors will determine the future of Italy's steel sector, as well as that of other European countries.
Comments
No comment yet.