Germany's steel output keeps sliding

Germany’s steel output keeps sliding

Germany's crude steel and pig iron production continued to show a year-on-year decline in August as many European steelmakers reduced production to maintain steel prices. Data from Germany's Federal Statistical Office indicate that the country's crude steel output fell 14.1 percent year on year to 3.32 million tons in August. Pig iron output dropped 15.6 percent year on year to 2.16 million tons during the same period. Compared to previous month, August production of crude steel dropped off 4.9 percent and pig iron production fell 2.9 percent. Crude steel output totaled 29.7 million tons through the first eight months of the year, down 4.3 percent year on year. In addition, pig iron output amounted to 19.26 million tons, down 4.1 percent year on year.