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Klöckner forecasts an increase in steel demand in Europe and North America

Klöckner &Co, a German steel producer and distributor, forecasts an increase in steel demand for Europe and North America.

Klöckner forecasts an increase in steel demand in Europe and North America

Klöckner &Co, a German steel producer and distributor with a wide product portfolio, predicts an increase in steel demand for Europe and North America.

Klöckner&Co expects steel demand in key markets in Europe and North America to increase in 2024 as inflation gradually decreases and conditions improve over time. In North America, the construction and energy industries are expected to see a 1-3% increase, in Europe, demand for energy and white goods is expected to increase by 0-1%, while other sectors are expected to remain flat.

Klöckner & Co's annual income is forecast at €6.96 billion in 2023, down 17% compared to 2022 due to lower steel prices. Steel shipments increased in 2023 to 4.52 million tons compared to 4.19 million tons in the previous year, while average monthly sales volumes of steel decreased by 5% in 2023 compared to 2022, from 826,000 tons to 786,000 tons.

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SteelRadar Insight - Sayı 1 (Haziran 2024)

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