The German Steel Federation (WV Stahl) has reported that steel demand in Germany will not recover this year as previously forecasted. Initially, a slight growth was expected, but the federation now predicts a 7% year-on-year decline.
This downturn is attributed to weak industrial activity and reduced investments in key sectors such as construction and mechanical engineering. The federation anticipates a 6% rebound in 2025, but warns that a sustained recovery is not yet in sight. The ongoing challenges highlight the urgent need for economic policy measures to support the steel industry.