German steelmaker Thyssenkrupp stated that shipments fell in the first quarter due to reduced demands.
The company's sales decreased by 6% compared to the same period last year, to approximately 2.54 million tons. The EU's steel demand was estimated to decrease by 2% year-on-year in 2022 and the cost of energy would increase. The problem of supply chains will expand due to the Russia-Ukraine war, the deadlock in China and unstable raw material prices.
However, higher market prices drove orders up 39% and sales rose 52% to EU$3.4 billion. Thyssenkrupp's orders will increase by more than 50% to 13.6 billion euros.
Fossil fuel, especially natural gas, and if the raw material supply is not restricted and prices remain stable. Thyssenkrupp's sales performance is expected to improve in 2022.
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