AT A GLANCE: Voestalpine reports rebound in steel demand in latter part of H1; expects recovery to continue

A summary of the financial results for Austrian steelmaking group Voestalpine for the first half of its 2020/21 financial year, covering the period April 1-September 30, 2020.

In brief 

The company's performance for the period was greatly affected by the effects of the pandemic on the steel market.  Demand for steel products started to recover in all major consuming sectors once lockdowns were removed toward the end of the first business quarter.  By the end of the second quarter, practically all of Voestalpine Group’s markets in Europe, with the exception of aerospace and the oil and natural gas sector, had recovered. The automotive industry, which is a key sector for the company, saw an unexpectedly strong rebound and had returned more or less to levels...

Published

Julia Bolotova

November 10, 2020

10:45 GMT

Dnipro