Italian steel production output in 2023: a slight decrease
Steel NewsDate: 30-01-2024 by: Ngoc Cam
In 2023, Italy's steel production output recorded 21.06 million tons of steel, down 2.5% compared to 2022. The predicted cause is the fluctuating situation in the European steel industry such as high energy costs, low steel export demand and the intense conflict between Russia and Ukraine.
1. Situation of Italian steel production in 2023
In 2023, domestic steel production output decreased by 2.5% to 21.06 million tons. This decline occurred in the context of falling global steel demand and unpredictable increases in fuel and raw material costs.
According to SteelOrbis data, long steel output reached 11.68 million tons, down 2.9% compared to 2022 and flat steel reached 9.54 million tons, down 0.1% y/y. In December 2023, domestic mills produced 1.33 million tons, increasing output by 6.5% y/y but decreasing by 29.5% compared to November 2023. Long steel production output reached 694 thousand tons, up 5% over the same period but down 36.9% over November. For flat steel, domestic producers reached 615 thousand tons, down 3.9% over the same period and 27.5% compared to the previous month.
Returning to 2022, Italy's total steel production reached 21.06 million tons, down 11.5% over the same period in 2021. Regarding long steel, in 2022, Italy reached 12.03 million tons, down 12% y/y. Meanwhile, flat steel products also decreased by 13.8% over the same period, reaching 9.55 million tons.
In 2022, not only Italy's steel output decreased, but the steel industry of EU countries also experienced a significant 10.5% decline over the same period, reaching 136.7 million tons. That was the result of rising energy prices, reduced export demand and the fluctuations of the Russia-Ukraine military conflict.
2. Italy increases steel imports from Vietnam to solve domestic supply shortages
According to data from the Vietnam Steel Association (VSA), Italy ranked 1st among the countries that imported the largest Vietnamese steel in the first 10 months of 2023. Steel exports to the EU market accounted for 24.1% of the turnover proportion, reaching 2.2 million tons, a sharp increase of 86.2% over the same period in 2022. Of which, exports to the Italian market reached 1,355 million tons, an increase of 127.7%.
Importing Vietnamese steel at good prices and high quality has helped Italy partly solve the difficulty of supply shortage due to a sharp decrease in domestic steel output. In the context of an unstable war situation and rising raw material prices, predicting Italy's steel demand is still a challenging question. Importers continue to seek supplies from major steel exporting countries such as China, India and Vietnam. However, they are still subject to many constraints on the government's trade defense measures to prevent dumping, which negatively affects domestic manufacturers.
3. MRS Steel - reputable and quality Vietnamese steel import support unit
MRS Steel is a leading unit in the field of providing Vietnamese steel import solutions, cooperating with many large and small businesses in more than 30 countries worldwide. With more than 10 years of experience as a bridge between importers and the largest steel brands in Vietnam such as Hoa Phat, Hoa Sen, Nam Kim, Tay Nam,... MRS Steel can meet all customer requirements in terms of product specifications, reasonable costs. In addition, MRS Steel's team of experts is always ready to advise customers about the market and Vietnamese steel products thoughtfully, in detail and 24/7 via Hotline: +84 28 36 22 33 58 or Email: vanloc@mrssteel.com.vn
