This was facilitated by the increase in production indicators of the country's main steel company – US Steel Kosice
In 2023, Slovak steel mills increased steel production by 15.4% compared to 2022, to 4.5 million tons. As a result, the country ranked 34th in the world ranking of steel producers WordSteel, according to the Association .
Slovakia has two steel mills – US Steel Kosice, with a capacity of 4.5 million tons of steel per year and 5 million tons of pig iron per year, and Max Aicher Slovakia Steel Mills Strazske (620 thousand tons of steel per year). year).
In 2022, Slovakia drastically reduced steel production by 20.4% year-on-year to 3.9 million tonnes, and in 2021 it increased by 41.2% year-on-year to 4.9 million tonnes. Thus, in 2023, Slovak steel mills resumed production after a significant drop in 2022.
The favorable performance of the Slovak steel industry last year was due to an increase in production at US Steel Kosice. In 2023, the company produced 4.39 million tons of steel, an increase of 14.5% y/y. Steel shipments through the plant increased by 3.7% y/y – to 3.899 million tonnes.
The company improved its performance despite scheduled summer maintenance, including on the blast furnace, and unfavorable conditions in the EU steel market.
Furthermore, in 2023, it became known that US Steel Kosice, within the framework of the EU's ambitions to reduce industrial emissions, will receive 300 million euros from the government to implement decarbonization projects. The company plans to modernize its production facilities by replacing two blast furnaces with electric arc furnaces. The total cost of the project is estimated at more than one billion euros.
Overall, steel production in EU countries in 2023 decreased by 7.4% compared to 2022, to 126.3 million tonnes.
