May 2011 | Coated Steels
The market continues to be divided: European Market Highlights
Germany shows the most impressive growth in manufacturing.
The European market for steel remains divided by geography and by the consuming markets. Germany still shows the most impressive growth in manufacturing, but both the UK and France are showing advances. In contrast, the latest news from Spain shows that industrial output in March was 0.9% lower than a year before, after year-on-year rises in both January and February, and the OECD foresees a slowdown in production in Italy in its most recent projection for Europe. Even in Germany, growth is not entirely steady. A marginal increase over February’s high industrial orders was expected in March and, in fact, orders were 4% lower, and with the boost to demand from the “cash for clunkers” subsidy now long gone, the car market has declined to barely larger than that of France.
Consuming markets remain more widely divided. As the chart shows, for the EU as...
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