Following the sharp reduction in the fourth quarter of 2011, at the beginning of the current year steel inventories were replenished, according to the German steel federation Wirtschaftsvereinigung Stahl (WV Stahl). "Given the robust state of the steel fabricators in Germany, we continue to assume that crude steel production will be 44.0 million in 2012," said Hans Jürgen Kerkhoff, president of the German steel federation, at a press conference.
According to Mr. Kerkhoff, the German steel industry in 2012 is likely to see slower growth compared to 2011, even if prices are still at a high level.
The association announced that in the first quarter of this year crude steel output in Germany rose by seven percent over the previous quarter, totaling 10.9 million metric tons, decreasing slightly on year-on-year basis.
The German steel federation estimates domestic crude steel production of 44 million mt for the year 2012, although the crude steel output in the first half expected to be less than in the same period last year.