Salzgitter confirms gloomy outlook for EU steel industry with weaker-than-expected Q3 results

German steelmaker Salzgitter confirmed the widely held view that the European steel industry will continue to face tough conditions in the year ahead, after deteriorating demand and rising imports led to a weaker-than-expected performance in the first three quarters of 2023.

“The economic situation in many of our key markets is currently challenging,” chief financial officer Burkhard Becker said in a third-quarter results statement. “In particular, the recessionary tendencies in our...


Julia Bolotova

November 14, 2023

17:46 GMT