Germany recorded the highest growth rate in crude steel production among the top 10 steel-producing countries in November. According to the latest data from the World Steel Association, Germany’s output increased by 8.6% year-on-year to 2.9 million tonnes.
This significant rise is attributed to the recovery from production cuts implemented in late 2023 to balance supply and demand in the European steel market. Despite the increased output, demand for finished steel products remains sluggish across Europe, with oversupply frequently cited as a hindrance to stronger price rebounds.