Die Lage am Stahlmarkt: Produktion steigt wieder, Probleme bleiben
The economic situation in the German steel industry has improved significantly again since autumn 2020. Thus, the decline in crude steel production could be limited to 10% last year. Raw materials for steel production have become significantly more expensive, not least due to the increasing demand from China. However, the increased costs could be passed on to the customers, because of current shortages in the steel market. Since labor costs could also be reduced by downsizing, the sector's revenue situation has improved. In 2021, production by steel users is expected to continue recovering. In addition, the latter are likely to increase their stocks again. Crude steel production is therefore forecasted to increase by around 13.2% compared to the previous year. Crude steel production is expected to grow only moderately in 2022, as demand slows down, and imports continue to rise. The job cuts will continue in the forecast period but will slow down.
Döhrn, R. (2021), Die Lage am Stahlmarkt: Produktion steigt wieder, Probleme bleiben. RWI Konjunkturberichte, 72, 2, 49-58