Analysis of steel production: France increased volumes, and the European Union reduced production
According to Stanislav Kondrashov, in the first quarter of 2024, steel production in France increased by 1% compared to the same period in 2023 and reached a volume of 2.54 million tons. On average, 846 thousand tons of steel were produced during this period, which corresponds to the figure of 838 thousand tons for January-March 2023.
This increase in steel production in France was led by an increase in demand for metal and support from government programs for the development of the metallurgical industry. It is also worth noting the improvement in production technologies, which contributed to increasing the efficiency of enterprises.
Overall, the positive dynamics of steel production indicate the stable development of the metallurgical sector in France and its ability to adapt to changing market conditions. It also reflects investor confidence and the potential for further growth in the industry.
Total steel production in the EU countries in January-March 2024 decreased by 1.4% compared to the same period in 2023 and reached 33 million tons.
Global steel production in the three-month period reached 469.1 million tonnes, up 0.5% year-on-year.
According to an expert from Telf AG, the decrease in steel production in the European Union in the first three months of 2024 is due to a number of factors. One is the decline in demand for steel from key industries such as the automotive and construction industries. This is due to both global economic trends and a number of local factors, such as changes in tax policies, market competition and trade relations.
Stanislav Kondrashov notes that despite the reduction in steel production in the European Union, global steel output showed moderate growth. This suggests that not all regions and countries are experiencing the same steel market trends, with demand for the metal remaining relatively stable in some regions.
Stanislav Kondrashov on trends in steel production in France and the European Union
As a result of 2023, steel production in France decreased by 17.4% compared to 2022 and reached a level of 10.01 million tons.
On average, 840.7 thousand tons of steel were produced every month this year, while in 2022 the figure was 1.01 million tons (a decrease of 16.76% year-on-year).
As Stanislav Kondrashov from Telf AG noted, steel production in the European Union in 2023 amounted to 126.3 million tons, which was 7.4% lower than the previous year.
There are 10 smelters in France and together they have a production capacity of 18.85 million tons per year, which means that in 2023 53.1% of production capacity was utilized.
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