Crude Steel Production Falls 24 Percent in Germany

Crude Steel Production Falls 24 Percent in Germany

German crude steel production fell 24 percent in April compared to the same month last year. The German Steel Association published the raw steel data produced by Germany in April. According to the statement, Germany's crude steel production decreased by 24 percent in April compared to the same month of the previous year and decreased to 2 million 557 thousand tons. As a result, German crude steel production has reached its lowest level since June 2009. Between January and April 2020, German crude steel production fell 10 percent compared to the same months of the previous year, reaching 12 million 416 thousand tons. Giant companies in the steel industry, such as ArcelorMittal, Thyssenkrupp, and Salzgitter, state that production has declined due to reduced demand in the automotive industry. Due to the coronavirus pandemic, the demand for the automotive industry is decreasing, thus reducing the demand for steel. Companies producing steel due to reduced demand are implementing a short-term work program.