Poland increased steel production by 6.4% m/m in September

In January-September, the country's steelmakers reduced steel production by 19.1% y/y

In September 2023, steel enterprises of Poland increased steel production by 6.4% compared to the previous month – up to 545 thousand tons. This is evidenced by WorldSteel Association’s data.

On an annual basis, steel production in Poland decreased by 7.6% as of September 2023.

In January-September 2023, Polish steelmakers produced 4.86 million tons of steel. This is 19.1% less compared to the same period in 2022.

In January-September, the average monthly production of steel in Poland amounted to 539.9 thousand tons, while for the same period in 2022, the indicator was at the level of 667.1 thousand tons (-19.1% y/y).

In 2022, Poland reduced steel production by 8.6% compared to 2021 – to 7.73 million tons. Thus, the country took 22nd place in the global ranking of WorldSteel steel producers.

In general, steel production in the countries of the European Union in September 2023 fell by 1.1% compared to September last year – to 10.6 million tons. In January-September 2023, 96.2 million tons of steel were produced in the EU, which is 9.1% less y/y.

Low indicators of steel production in January-September 2023 are connected with the weak state of the market, which has been observed since the fall of 2022. The European steel industry is facing high production costs, at a time when demand for domestic steel products is weak against the background of filling the market with cheaper imported products. Currently, many companies have limited their capacity to balance supply and demand and stabilize product prices.

As GMK Center reported earlier, in 2022 European steelmakers reduced steel production by 10.5% compared to 2021 – to 136.7 million tons. In general, global steel output last year fell by 4.3% y/y – to 1.831 billion tons.