Date: 2013-08-01

German Steel Production Falls in 2012, Stabilization Expected

Raw steel production in Germany fell in 2012 but indicators are mounting that industry production is stabilizing, industry group Wirtschaftsvereinigung Stahl said Thursday.

In 2012, raw steel production in Germany slid 3.7% on the year to 42.7 million tons, but production in the last month of the year increased by 1.4% to 3.06 million tons, signaling the decline in production could be coming to an end.

Production in the fourth quarter of 2012 also increased after four consecutive quarters of contraction, reaching a growth rate of around 1% for a total of 10.2 million tons produced.

The industry group Wirtschaftsvereinigung Stahl confirmed its stable outlook for 2013 and said a slight increase to around 43.0 million tons could be possible.

German raw steel capacity utilization was around 84% in 2012, slightly above worldwide levels of about 79%, the industry group added.

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