Italy reduced steel output by 14.7% y/y in January 2023

Italian steel enterprises in January 2023 reduced steel production by 14.7% compared to January of last year – to 1.552 million tons. Compared to December 2022, the indicator increased by 22.7%. SteelOrbis informs about it with the reference to data from the Italian association of steel producers Federacciai.

The production of flat rolled products in Italy in January 2023 decreased by 17.7% compared to the same period in 2022 – to 749 thousand tons. The production of rolled products in the country in January 2023 amounted to 766 thousand tons, which is by 19.7% less on an annual basis.

Steel enterprises of Italy in 2022 reduced steel production by 11.5% compared to the same period of the previous year – to 21.6 million tons. In 2022, the production of rolled products in the country decreased by 12% y/y – to 12.03 million tons, flat rolled products – by 13.8% y/y, to 9.55 million tons.

According to the WorldSteel association, steel production in the EU countries in 2022 decreased by 10.5% year-on-year – to 136.7 million tons. In general, steel production in the world fell by 4.3% y/y – to 1.83 billion tons. During the past year, the situation in European steel industry was affected by such factors as high prices for energy resources, high volatility of prices and demand, and a decrease in steel exports from the EU. They were partly caused by the military aggression of the Russian Federation against Ukraine.

As GMK Center reported earlier, the Italian steel plant Acciaierie d’Italia (ADI), a joint venture of the steel company ArcelorMittal and the state, is planning in 2023 to produce 4 million tons of steel. In February, the Ministry of Finance of Italy officially sanctioned payment of a grant for the steel plant in the amount of €680 million ($736 million).