German steel industry has slightly increased production in the first half-year
The steel industry in Germany slightly increased its production in the first half of the year. Rohstahl production was 19.4 million tonnes higher in the first six months compared to the previous year's period, according to the Economic Association of the Steel Industry (WV Stahl) announced on a Wednesday. However, there is no reason to rejoice, the association stressed, representing heavyweights such as Thyssenkrupp, Salzgitter, and ArcelorMittal.
"It seems that the lowest point has been passed through in rohstahl production. However, it remains questionable how sustainable this development is", stated the CEO of the Economic Association of the Steel Industry, Kerstin Maria Rippel. Even after 2023, the weakest demand year since the financial crisis, the steel industry still lacked essential demand impulses from important steel-processing industries. In particular, the machinery industry, automobile industry, and construction industry continued to struggle with weak international demand, the crisis in the housing market, and lacking domestic and EU investments. In addition, high energy costs were a burden for manufacturers.
- Despite the rise in production in the steel industry in Germany during the first half of the year, reaching a surplus of 19.4 million tonnes compared to the previous year, the CEO of the Economic Association of the Steel Industry expressed doubts about the sustainability of this development.
- The increase in production in the German steel industry, with Rohstahl production reaching over 50 million tonnes in the first half of the year, has not eradicated the steel industry's need for essential demand impulses, even after the weakest demand year since the financial crisis in 2023.
- With Germany's steel industry showing a significant increase in production during the first half of the year, collecting more than half a billion tons, the high energy costs still pose a challenge for manufacturers operating in the steel industry.
