Germany's crude steel production remains at low levels despite recovery
by David Fleschen
Germany's crude steel production totaled approximately 3.1 million tonnes in July 2024. Although this figure represents a continuation of the upward trend observed in the first half of the year, the overall level of production remains relatively low. For the first seven months of 2024, production has increased by nearly 5 percent compared to the same period last year.
Dr. Theuringer, Managing Director and Chief Economist of the Economic Association of Steel, commented on the situation: “The recent modest increase in production, which is coming from a low base, is far from a cause for relief. Instead, 2024 will likely be another lost year for the steel market. Economic concerns have grown, and many key steel-consuming industries continue to experience a downturn. Additionally, despite weak economic conditions, there is ongoing pressure from rising imports across Europe. Expectations for economic recovery have now shifted entirely to 2025.”
Steel Production Data (in 1,000 tonnes)
| Product | July 2024 | Change from Previous Year | January-July 2024 | Change from Previous Year |
|---|---|---|---|---|
| Total Crude Steel | 3,144 | +6.3% | 22,504 | +4.7% |
| Oxygen Steel | 2,355 | +4.0% | 15,830 | +2.9% |
| Electric Steel | 789 | +13.8% | 6,674 | +9.3% |
| Pig Iron | 2,131 | +2.4% | 14,573 | +2.7% |
| Hot-Rolled Steel Products | 2,601 | +2.5% | 19,319 | +2.9% |
Source: WV Stahl, Photo: Fotolia