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According to data from the German SA203 Grade E steel Association, the crude steel production of the German steel industry in 2024 was 37.24 million tons, a year-on-year increase of 5.2%. Although production increased year-on-year, crude steel production still fell below the 40 million ton mark for the third consecutive time, at a declining level, and other economic indicators are also in a weak state.
In terms of supply and demand, the market SA203 Grade E steel supply has declined for the third consecutive time in 2024, currently at a historical low of about 27 million tons, with a decrease of 7%. It is understood that the supply in the German market has decreased by about one-third since 2017. On the demand side, the demand for steel in the German steel market is also extremely weak.
By process, the production of blast furnace steel in Germany will increase by 3.3% year-on-year in 2024, reaching 26.42 million tons; The production of electric furnace steel increased by 10.2% year-on-year, reaching 10.82 million tons. Among them, the crude steel production in December was 2.74 million tons, and the electric furnace production was 516000 tons; The blast furnace produced 2.23 million tons, a year-on-year increase of 5.9%.
Looking ahead, the German SA203 Grade E steel Association stated that there are no signs of positive support in the short term for 2025.
