German steel manufacturers are currently benefiting significantly from reduced energy costs, a fact often overlooked amidst their persistent complaints and calls for government intervention. Despite receiving billions in relief, these companies continue to bemoan high energy expenses, while global prices for hot rolled coil are on the rise.

Price hikes for hot rolled coil are being observed worldwide. In the United States, steel producers are witnessing increases of up to $33 per metric ton. In Europe, prices have surged by over 14% since September's end, and in China, the increase exceeds 18%.

Contrary to media reports emphasizing price pressures, energy costs in Europe, including natural gas, coal, and oil, have remained relatively stable with manageable fluctuations. Deutsche Bank recently noted that electricity prices in Germany were negative for 413 hours in September alone, showcasing the growing availability of renewable energy sources.

Europe stands well-prepared for the impending colder months, boasting natural gas reserves nearing full capacity at 95%, thus alleviating concerns about supply shortages.

Despite steel manufacturers' persistent appeals for government aid due to purportedly soaring energy expenses, the substantial reduction in industrial electricity taxes and levies by almost 64% since 2021, amounting to €22.4 billion annually, is often disregarded.

Governments have already taken significant steps to ease the industry's burden, with steelmakers receiving substantial CO2 emission allowances at no cost. The recent extension and enlargement of the German electricity price package injects an additional €7 billion in electricity subsidies for energy-intensive firms, exempting about 350 companies from CO2 emissions trading costs.

The remaining energy cost increases within the steel sector may largely be attributed to negotiations with energy suppliers. It falls upon energy-intensive industries to assert themselves in pricing discussions.

It is imperative to decisively address the persistent demands of the steel industry and firmly decline further subsidies or concessions.