Steelmaker says worst behind us
There will be no recovery for Germany’s steel industry until at least 2011, following a “very difficult” 2010, the country’s steel federation said yesterday.
“But the worst is behind us,” said Federation president Hans-Juergen Kerkhoff.
Kerkhoff said supply and demand in Germany, the biggest steel-making nation in Europe, had now “balanced out again” on a better level compared with early this year.
Third-quarter new orders were flat year on year, but the recovery was due to an end of destocking, he added.