German crude steel output increases by 4.9 percent in January

Tuesday, 27 February 2024 12:26:29 (GMT+3)   |   Istanbul

In January this year, Germany’s crude steel output increased by 4.9 percent year on year to 3.07 million metric tons, according to the information provided by the German steel federation Wirtschaftsvereinigung Stahl (WV Stahl).

Germany’s pig iron output amounted to 2.05 million mt in January, up 4.7 percent year on year.

The country’s hot rolled steel output increased by 6.2 percent year on year to 2.72 million mt in January.

Dr. Martin Theuringer, managing director and chief economist of the Germany Steel Association stated commented, “Despite the slight increase in crude steel production, we cannot speak of a trend reversal. The year 2023 was the weakest in terms of production due to the financial crisis, and production is still at a very low level.” Theuringer added that, in addition to production, what is also worrying is the low market volume.

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