In 2024, steel mills in the Czech Republic produced just 2.4 million tons of crude steel, marking the second consecutive year of historically low output. This represents a further 25% decline in production compared to 2023.
Steel consumption also saw a slight drop, reaching its lowest point since the peak of the financial crisis in 2009, mirroring the trend from the previous year. Additionally, steel exports fell to their lowest levels ever recorded, while imports of steel products into the Czech Republic increased.
The decline in production is largely attributed to the challenges faced by the Liberty Ostrava steel plant, once the country’s largest producer, which is now operating at limited capacity.
Several factors contributed to the situation, including persistently low demand, high energy costs, the global geopolitical climate, competition from cheap imports from third countries, and the overall unfavorable macroeconomic conditions in both the Czech Republic and the European Union.
Steel consumption dropped from 5.6 million tons to 5.5 million tons last year.
Liberty Ostrava, formerly known as Nová Hut, had once produced about three million tons of steel annually. However, the company fell into severe debt and declared bankruptcy, ceasing primary steel production in the fall of 2023 after shutting down its last operational blast furnace. The company’s coke-chemical plant also closed in August 2023. Now, only secondary production remains, transforming raw materials into other products. The company is in bankruptcy, with plans underway to sell its operations. Currently, Liberty Ostrava operates three production facilities, financed by other companies.
