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Germany increased steel production by 6.3% y/y in July and The production of pig iron for the month increased by 2.4% y/y, and rolled steel by 2.5% y/y German steelmakers increased steel production by 6.3% in July 2024 compared to the same month in 2023, to 3.14 million tons. Compared to the previous month, the figure decreased by 1.3%. This was reported by the German steel association WV Stahl. In July, steel production in converters increased by 4% y/y and 8.4% m/m – to 2.35 million tons, while in electric arc furnaces (EAF) it decreased by 22.2% y/y and 13.8% m/m – to 0.79 million tons. Pig iron production increased by 2.4% y/y and 6.2% m/m – to 2.13 million tons. Germany produced 2.6 million tons of rolled steel, up 2.5% y/y and 6.1% m/m. In January-July, Germany increased steel production by 4.7% y/y – to 22.5 million tons, including 2.9% y/y in converters to 15.83 million tons, and 9.3% y/y in EAF – to 6.67 million tons. Pig iron production increased by 2.7% y/y – to 14.57 million tons. Rolled steel production increased by 2.9% y/y – to 19.32 million tons. https://lnkd.in/dbMAdqts

The increase in U.S. raw steel production by 1.6% could potentially affect Europe in several ways: 1. Global Steel Prices: Increased production in the U.S. might lead to a decrease in global steel prices, affecting European steel producers' profitability. 2. Exports and Competition: If the U.S. increases steel exports, European companies might face stiffer competition both in domestic and international markets. 3. Supply Chain Dynamics: A shift in U.S. production levels could influence global supply chains, impacting European industries that rely on steel imports. To address potential impacts of increased U.S. steel production on Europe, several solutions could be considered in our opinion: 1. Diversification of Supply Chains: European companies could diversify their steel supply sources to reduce dependency on any single market. 2. Investing in Innovation: European steel producers could focus on high-quality, specialized steel products that are less sensitive to global price fluctuations. 3. Trade Policies: The EU could consider adjusting trade policies to protect its steel industry from excess imports, such as tariffs or anti-dumping measures. 4. Strategic Alliances: Collaborating with other global producers or consumers to stabilize prices and demand could be another approach. These strategies could help mitigate the impact of changes in global steel production dynamics on Europe in our opinion. And you, which are your thoughts?

IFC to support Bangladeshi steelmaker’s new EAF-based project! https://lnkd.in/dcpD6Y29

German steel industry will become the main European consumer of green hydrogen: https://lnkd.in/djDyE7Et

China's Steel Industry Braces for Painful Consolidation China Baowu Steel Group, the world's leading steel producer, anticipates a "harsh winter" for the steel industry, characterized by a prolonged and severe downturn. Concerns about China's economic growth and the global economic outlook are rising, with Goldman Sachs clients expressing caution and JPM Global Manufacturing PMI indicating contraction. Iron ore prices have fallen to May 2023 lows, and Chinese steel mills are expected to cut production and increase exports, adding to deflationary pressures. https://lnkd.in/dfCyC4-H

🇬🇧- The UK Trade Remedies Authority (TRA) has proposed increasing the import quota for hot-rolled steel from developing countries, from 247,112 to 253,206 tonnes per year. This adjustment is part of a review of the steel safeguard measures that have been in place since 2018. 🌍- The increase aims to better align with current market needs, ensuring a stable supply while supporting UK manufacturers. It highlights the importance of responsive trade policies in a rapidly changing global market. #SteelIndustry #UK #SteelImport’s #Manufacturing #GlobalTrade #SupplyChain #Steel

🌍- The EU’s Carbon Border Adjustment Mechanism (CBAM) is set to impact global steel trade dynamics. However, there’s a silver lining for India’s steel industry: by focusing on the right markets, how can mitigate these effects effectively? 🇮🇳- CBAM challenges Indian steel exporters targeting the EU market due to increased carbon costs. To navigate this, it’s important to look toward markets with less stringent carbon regulations and growing infrastructure demands. According to recent insights from SteelRadar, key regions like the Middle East, Africa, and Southeast Asia offer significant opportunities. Notably, steel demand in the Middle East is projected to grow by 4% annually. ❓- As we navigate CBAM, what do you think is the best strategy to maintain our competitive edge? • Diversifying export markets (e.g., Middle East, Africa) • Investing in green steel technologies • Forming strategic partnerships and collaborations 💬- Looking forward to your thoughts and insights! #CBAM #SustainableSteel #Steel #SupplyChain #Omnistaal #GreenSteel #Infrastructure #Construction

🌍- Impending EU Anti-Dumping Investigation on Steel Imports . 🚢- The European Commission is expected to initiate an anti-dumping investigation targeting steel coil imports from Egypt, Japan, India, and Vietnam. These countries represented 51% of HRC imports, totaling 4.3 million tons from January to May 2024. The investigation could impact approximately 2.2 million tons of HRC, reshaping the market for European mills. Provisional duties might be imposed for eight months, followed by definitive measures in 14 months if dumping is confirmed. 💬- What strategies will you implement to your existing supply chain? #Trade #SteelIndustry #EUInvestigation #Steel #HRC #SupplyChain #Procurement #SteelTrade #Omnistaal

🇮🇹- We’ve recently supplied high-quality metal gratings made from S355J2 steel to our client in Italy, who specializes in structural engineering. 🔩- Known for its exceptional strength and toughness, these gratings are essential in flooring, walkways, platforms, and mezzanines, offering unmatched durability and reliability. ⚙️- Our rigorous standards at Omnistaal ensure that clients receive robust and long-lasting solutions for their industrial and commercial needs. The use of S355J2 steel guarantees enhanced structural integrity, making it a reliable choice for a wide range of applications. #IndustrialStrength #StructuralEngineering #Steel #Procurement #SupplyChain

🇨🇳- Chinese steel enterprises reported gross losses in H1 2024, amounting to RMB 310 million in the first half of 2024. This marks a stark contrast to the previous year, reflecting a 10% decline in production and a 15% drop in exports. Key factors contributing to these losses include rising raw material costs, stringent environmental regulations, and weakened demand both domestically and internationally. 💬- As industry professionals, it’s crucial we stay ahead of these trends. How is your organization adapting to these changes? What strategies are you finding effective? #SteelIndustry #EconomicUpdate #MarketTrends #ChinaSteel #Procurement #SupplyChain #Steel #Omnistaal