Steel production in Germany likely to remain stable in 2005

Steel production in Germany likely to remain stable in 2005

The Association of German Steel Producers expects 2005 domestic steel production to keep its level in 2004 as steel mills operate at 97-98% capacity and thereby leave no space to increase their production. According to the statement released by the Association, steel production in Germany is expected to reach 46.5 million tons this year, up by 4% from last year's figure. The previous forecast was an increase of 3%. The Association also commented on China's steel need. According to the forecasts, China's need of steel will reach 300 million tons in 2005, up by 10% from 2004. Moreover, it is stated that demand in NAFTA zone and EU have increased by 11.5% and 3.8% respectively. For 2005, demand in EU is expected to increase by 2.4-2.7%.