Austria increased crude steel production in July
According to worldsteel, Austria increased steel production in July, overcoming the general recession in the EU.
The production volume amounted to 658,067 tons, which is 7.5% more month-on-month and 2.3% more year-on-year, Kallanish notes.
In the first seven months of this year, the country produced 4.31 million tons of steel, compared with 4.47 million tons in the same period last year.
According to the data, Austria remained in 23rd place in the ranking of the world's largest steel producers.
The total volume of production in the EU in June decreased by 7% compared to the same period last year and amounted to 10.16 million tons. Production in January-July amounted to 75.6 million tons compared to 78.6 million tons in the same period last year.
Austrian steel producer voestalpine recently expressed optimism about economic incentives in the form of an infrastructure spending program announced by the German government (see Kallanish passim).
The steelmaker previously said the company would supply steel to Chinese electric vehicle manufacturer BYD for its new automotive plant in Hungary. The Chinese company noted that BYD was chosen because of its geographical proximity to the plant in Hungary, as well as because of the high quality and impeccable reputation of Austrian steel.
Svyatoslav Abrosimov Bulgaria
Kallanish.com