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Steel Industry Full of optimism into 2011
Monday, 11.08.2010, 14:06
The steel industry in Germany is optimistic about the year 2011. The President of the Steel Trade Association, Hans Jürgen Kerkhoff said that steel demand in the coming year will remain upward.
The German steel industry is optimistic about the year 2011. The steel market in the coming year will remain upwards, said the president of the Steel Trade Association, Hans Jürgen Kerkhoff, on Monday in Dusseldorf. However, the increase would be more moderate than 2010.

In the current year, the industry association expects a crude steel production by nearly 44 million tons, up by around 35 percent over the crisis in 2009 and almost a million tons more than was expected only mid-year. The capacity utilization is so again in 2010 at 83 percent, up from just 62 percent last year. Capacity utilization in the steel industry is therefore “almost back to long-term average,” said Kerkhoff. The number of employees has stagnated in the steel industry in 2010 of 92,000. During the crisis the industry had cut about 3,000 jobs.

Overall, the steel pan to the economic crisis, increasing again in the normal mode “, the President said the steel industry association. The temporary slump in orders in the third quarter had been overcome. In September, orders were again increased by eleven percent. “In the coming months, we expect an upturn in orders,” he added. For the industry in the coming year will again catch up with the long-term growth trend.

The industry association is significantly more optimistic than the economic analysts of the Rhine-Westphalian Institute for Economic Research (RWI). It was published three weeks ago in his report, a steel end of the upturn predicted in the steel industry and forecasts for 2011, even a slight drop in production.

The optimism of the industry based Kerkhoff According to several reasons. Thus, the overall economic recovery in Germany jumped by more than exports to the domestic economy. Thus broadening the basis for a sustained recovery in steel demand. Moreover, it claimed that the inventory levels at distributors and processors still well below their long-term average, so will the ongoing economic recovery is quickly reflected in a rising demand for steel.