Germany's Crude Steel Production Increases In September 2013
News: According to data from German industry organisation Wirtschaftsvereinigung Stahl , domestic crude steel output in September 2013 reached 3.6mn tonnes, reports Steel Orbis. This was an increase of 1.4% year -on-year (y-o-y) . Germany ' s Q313 crude steel output fell by 3.3% y-o-y to 10.2mn tonnes. During January-August 2013, German hot rolled steel production totalled 24.4mn tonnes, down 1.1% y-o-y.
BMI View: Germany's metals sector will continue to feel the squeeze as output prices remain low and costs stay stubbornly high. We forecast subdued growth in consumption of key metals such as steel, copper and aluminium, chiefly due to a muted outlook for economic activity in the country. Key metal consuming sectors such as autos and construction will remain weak. For autos production, we do not foresee a return to growth until 2018 at the earliest.