Italy reduced steel production by 7.9% m/m in November

Rome: Italian steelmakers reduced steel production by 7.9% in November 2024 compared to the previous month, to 1.8 million tons. The figure fell by 4.4% compared to the same period in 2023. This is reported by SteelOrbis with reference to data from the Italian Federation of Steelworkers Federacciai.

Production of long products for the month decreased by 5% compared to November 2023 and remained at the level of the previous month – 1.1 million tons. Flat products output amounted to 747 thousand tons, down 12.2% y/y and 5.9% m/m.

In January-November 2024, Italian steelmakers reduced steel production by 4.7% compared to the same period in 2023, to 18.8 million tons. Long products output amounted to 11 million tonnes (+0% y/y), and flat products output was 8 million tonnes (-10.6% y/y).

As GMK Center reported earlier, in 2023, Italian steelmakers reduced steel production by 2.5% compared to 2022, to 21.06 million tons. The decline in steel production was driven by a decline in global demand for steel products and high energy costs.

Long products production for the year amounted to 11.68 million tons, down 2.9% compared to 2022, and flat products production amounted to 9.54 million tons (-0.1% y/y).

In total, the EU produced 126.3 million tons of steel in 2023, down 7.4% y/y. In December, the EU countries increased steel production by 2.7% compared to December 2022 – up to 9.1 million tons.