Prices for flat steel in Germany in recent years has decreased due to the economic downturn because of the coronavirus, said on Wednesday, Dr. Heinz-jürgen büchner, managing Director for industry, automotive and services IKB Deutsche Industriebank AG. However, according to him, the prices of billet and steel scrap continued to rise.
"it is Expected that steel production in China will fall below the level of the previous year after current interruption to production. Supply chains have also been disrupted due to problems with logistics from raw materials and production. Since China is currently reducing its exports to Asia and the Persian Gulf region, Turkey will be more involved in this process. Turkish export this reduces the pressure on the continental European market. Therefore, we expect a slight increase in steel prices in the second quarter," said Buechner.
According to the European steel Association (EUROFER), the virus has not yet had a significant impact on the steel market in the EU. "Steel producers in the EU can freely deliver products from their factories in the EU," said EUROFER.
the seasonally adjusted the index IHS Markit / BME purchasing Manager (EMI) rose to a 13-month high at 48.3 points in January. According to current data, nearly all sub-indices contributed to the growth of the underlying index.
"It gives us and our customers are optimistic about the fact that EMI is increasing for the second month in a row. Due to the epidemic of coronavirus, which is also distributed in Europe, we should expect its further development", stressed Dr. Silvius of Grobos, Executive Director of the Federal Association for materials management, purchasing and logistics (BME), on Wednesday in Ashbourne.
