Crude steel output in Germany will be 4% down on 2008 levels - Research and Markets: Germany Metals Report Q1 2010 - by 2014

German metals producers are set to witness a solid recovery in output in 2010, but ongoing challenges to competitiveness will prove to be major hurdles to the industry in the long term. According to the latest Germany Metals Report, it is unlikely that pre-recession levels will be reached over the next five years. The report estimates that crude steel output fell 27.6% year-on-year (y-o-y) to 33.15mn t in 2009, an upward revision from the 30mn t we forecast in the previous quarterly report and slightly better than the 28% drop to 33mn t forecast by Wirtschaftsvereinigung Stahl (WV Stahl, the German steel industry association). Impressive performance in H209, following Germanys exit from recession in Q209, prompted restocking in steel-using industries which in turn lifted crude and semis output. Q409 crude output was up 29.8% quarter-on-quarter (q-o-q) to 10.59mn t, although it was still down 5.4% y-o-y. Hot-rolled production in 2009 was down 25.7% y-o-y to 31.33mn t.

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