Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

German crude steel output edged 1.2pc lower in November at 3.37mn mt compared with 3.42mt mt in the prior month, according to the latest data released by the German Steel Federation (Wirtschaftsvereinigung Stahl) on Monday.


Crude steel production in Germany has recovered much faster than most other major European countries, surging 14.8pc higher in November compared with the same month last year, driven largely by robust consumption from the automotive industry.


The recovery in steel demand was driven by high domestic construction activity in the first half of 2020, though more recently, local vehicle manufacturing has rebounded sharply.


Domestic pig iron production grew 2pc to 2.09mn mt in November compared with 2.07mn mt in the prior month and stood 20.4pc higher compared with volumes produced in the same month last year.


One German-based steel producer commented that finished steel order books remained relatively healthy for this time of the year through to early next year, despite the complications caused by the COVID-19 pandemic.

Leave a Reply

Your email address will not be published.