Germany's crude steel, pig iron output down

Germany's crude steel, pig iron output down

Germany's July crude steel and pig iron production showed a year-on-year decline as steel producers began cutting back production because of rising inventories. Data from Germany's Federal Statistical Office indicate that the country's crude steel output fell 10.4 percent year on year to 3.49 million tons in July. Pig iron output dropped 13.4 percent year on year to 2.22 million tons during the same period. Compared to previous month, July production of crude steel dropped off 4.6 percent and pig iron production fell 4.7 percent. Crude steel output totaled 26.38 million tons through the first seven months of the year, while pig iron output amounted to 17.10 million tons.