German Steel Federation foresees strong steel demand in 2012

The German steel industry has seen a stabilizing of prices since the start of the current year after prices declined in the last quarter of 2011, according to a report on the German steel sector released by the German Steel Federation.
 
The report said that the financial situation in the German steel industry showed two different faces in 2011: a strong first half-year was followed by a noticeable dynamic loss in the second half of the year on the back of the debt crisis in Europe which affected the financial situation in the steel sector.
 
However, crude steel production in Germany rose in January compared to December last year. In addition, orders of domestic steel enterprises reached 3.8 million mt in January this year, which is the highest level since March 2010.
 
The federation estimates that steel demand in Germany will remain robust in 2012, while German crude steel production for the year is predicted to be 44 million mt, remaining more or less stable compared to the level of 44.3 million mt recorded in 2011.