Germany: Demand for the steel sector falls in the third quarter



The Federal Statistical Office in Wiesbaden announced that the value of received orders for the sector in the third quarter of this year decreased by 9.4 percent compared to the second quarter, and on an annual basis by 9.7 percent.

As a result, the order backlog decreased by 4.9 percent compared to the previous quarter.

Production in the third quarter was reduced by 0.7 percent compared to the second. Compared to the same period last year, production increased by 2.7 percent.

It should be noted that one of the main reasons for the weak economy Steel in Germany Sharp rise in energy prices as a result of the war in Ukraine.

In the first quarter of 2022 – during the beginning of the Russian attack on Ukraine Production was 5.2 percent higher than it is currently.

During the third quarter of this year, July-September, the revenues of companies operating in the sector decreased by 1.8 percent compared to the second quarter. At the end of last September, the number of workers in the sector reached 71,200 people, an increase of 1.7 percent compared to the previous year and more than at any time since the end of September 2020.

German steel giant Thissenkrupp is currently planning to cut jobs and hire several thousand jobs.





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