According to RWI Essen, one of the leading economic research institutes in Germany, German crude steel production is expected to drop by 30 percent in 2009 as builders and carmakers choose to use up stockpiles rather than buy more steel.
German crude steel output in 2009 is likely to fall to 32 million mt from 45.8 million mt in 2008, RWI Essen stated. In 2008, the country's crude steel output was down by 5.6 percent, compared to 2007.
Meanwhile, RWI Essen added, Germany's crude steel production will probably gain 4.2 percent and rise to 33.3 million mt in 2010 due to a slight increase in Germany's gross domestic product and a rebound in investments at the end of 2010.