Crude Steel Production In Germany Falls By 27% YOY In May
- Jun 25, 2020-
Crude steel production in Germany fell by 27 percent to 2.6 million tons in May compared to the same month last vear. the German Steel Federation (WV Stahl) announced on Wednesday.In April, crude steel production in Germany had already dropped by 24 percent and WV Stahl warned that "demand for steel could shrink to an even lower level than durina the 2009 financial crisisThe CovD-19 crisis would "hit the industry at a time when it was already weakened by the economic downturn" in important customer industries WV Stahl statedGermany's largest steel producer ThyssenKrupp announced in May that the first half of the current fisc al year was "sianificantly impacted by the initial effects of the coronavirus pandemic."Total volumes on the steel market in Germany had fallen by 12 percent last year. Crude steel production dropped for the second year in a row and. for the first time since 2009. fell below the 40-million-ton mark at39.7 million tons.
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