EU steel output remains low: Tathya

  • Wednesday, June 14, 2023
  • Source:ferro-alloys.com

  • Keywords:EU steel output, Tathya
[Fellow]Tathya's hot metal index was 87.65, up marginally from 87.47 the previous week, but still close to its lowest levels since the end of January.
 
European hot metal production remained at low levels in the week to 3 June, according to data from analytics platform Tathya Earth, which tracks output through satellite data.
 
Tathya's hot metal index was 87.65, up marginally from 87.47 the previous week, but still close to its lowest levels since the end of January.
 
"The recent increase has been driven by ArcelorMittal, as well as German producer ThyssenKrupp and some others," Tathya's co-founder, Himangshu Das, told Argus.
 
Activity at the vast majority of ArcelorMittal's plants tracked by Tathya declined during the week, Das said. Interestingly, production at US Steel's Kosice plant in Slovakia hit its lowest level since January 2022, despite the company maintaining that it is not idling a blast furnace in response to low demand.
 
There was a broad-based decline in German production, reflecting lower demand in western Europe's largest consumption market. Austrian output also fell, continuing the poorer performance seen in April. Austrian production decreased by 6.5pc in April, according to international steel industry organisation Worldsteel. Tathya data also showed softer Austrian output last month. Its sub-index for Austrian steelmaker Voestalpine hit a low of 0.048 at the start of that month, but rebounded somewhat in the following weeks.
 
European hot-rolled coil (HRC)-producing mills have been expected to reduce their capacity given low demand and the impending summer lull. Argus' headline Italian and northwest EU HRC indexes both have fallen in recent months. The daily northwest EU HRC index slipped to €692.75/t on 7 June, from €806.75/t at the start of May, while the Italian index fell to €655.25/t from €813.75/t over the same period.
 
argusmedia
  • [Editor:kangmingfei]

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