The steel industry in Germany, with players such as Thyssenkrupp and Salzgitter, cut back their production last year.

At a total of 36.8 million tons, production in 2022 fell by 8.4% compared to the previous year, the German Steel Federation announced on Monday. With the exception of the coronavirus year 2020, this is the lowest annual figure since 2009. At 17.3 million tons, the production volume in the second half of the year even represents a low point since reunification. Steel companies are struggling with increased energy and raw material costs as well as supply chain problems.

(Report by Tom Käckenhoff, edited by Ralf Banser. If you have any queries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)