Klöckner forecasts weaker EU steel demand, lower prices in 2019

German metals distributor Klöckner expects its 2019 earnings to be negatively affected by “declining demand” and weaker steel prices, it said on Tuesday April 30.

“Against the background of unexpected... negative price effects and declining demand developments – especially in the [EU] automotive business,” Klöckner expects its operating income to fall to €50-60 million for the second quarter, down from €82 million in April-June 2018. As an example, Fastmarkets' weekly price assessment for domestic hot-rolled...

Published

Viral Shah

April 30, 2019

13:56 GMT

London