Germany - Latest news GMK Center

High costs put more and more German companies in a difficult position

Over 8 months, the domestic market consumed 19.83 million tons of rolled steel

In August and July, the inflation rate exceeded 6% – 6.1% and 6.2%, respectively

Experts expected a drop of 0.1%

Planned shutdowns of the plant will last from October 27 to November 12 and from December 14 to December 31

Market participants hope that export demand will remain in the near future

Investments in the first place amounted to almost €20 million

The French company announced the decision to close two German plants in 2022

The company plans to repair and maintain the unit

Production of pig iron in the country decreased by 0.1% y/y in this period

The country's steelmakers believe that this will be a signal for future investment in the industry

The market is counting on the revival of activity after the summer break