New orders for hot rolled steel products received in the German steel market increased three percent in the second quarter of this year compared to the second quarter of the previous year, according to the German steel federation Wirtschaftsvereinigung Stahl (WV Stahl). In the second quarter this year, new orders in Germany fell by 5.9 percent from the previous quarter to 9.2 million metric tons. The decrease compared to the previous quarter is mainly due to seasonal influences, noted the federation.
In the second quarter, orders from Germany's domestic market fell 8.1 percent compared to the first quarter and were up 4.45 percent year on year, totaling 5.77 million metric tons, while foreign orders fell by two percent quarter on quarter and were up slightly by 0.6 percent compared to the same period of the previous year, amounting to 3.45 million metric tons. Meanwhile, in June this year the order books in Germany amounted to 7.8 million mt, decreasing by 4.3 percent from the last month of the previous quarter (March) and down 0.4 percent year on year.
According to the federation, the recent increase in orders is a first glimmer of hope, but there are still no signs of a turnaround.