07
2023
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03
The Spanish stainless steel factory Acerinox's production in 2022 decreased by 17% year-on-year to 2.108 million tons
Acerinox, a stainless steel manufacturer headquartered in Spain, saw a significant decline in production in the fourth quarter of 2022 due to weak apparent demand and seasonal adjustments at the end of the year, as well as slow inventory reduction, which increased pressure on production release.
In the fourth quarter of 2022, the production of Acerinox stainless steel crude steel was 379000 tons, a year-on-year decrease of 38% and a decrease of 22% compared to the third quarter. The production in 2022 was 2.18 million tons, a year-on-year decrease of 17%. The strong demand in the first half of the year was replaced by a significant slowdown in the second half. The company stated that a large amount of imports from Asia have led to market demand being replaced.
In the fourth quarter, the apparent demand for stainless steel flat products in the US market decreased by 32% quarter on quarter, while imports decreased by nearly 40% month on month, and inventory began to rebalance; The apparent demand in the European market decreased by 15% quarter-on-quarter (QoQ), as the uncertainty of events in Eastern Europe led to a decrease in demand and inventory levels higher than the average in recent years.
The group expects a significant improvement in revenue in the first quarter of 2023 compared to the fourth quarter of 2022, driven by a large backlog of high-performance alloy orders and a decrease in overall supply chain costs.
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