Order intake weaker than expected
The stainless steel industry is currently heading into its seasonal slowdown. During the summer holiday month, the industry closes sites in order to carry out equipment maintenance, mainly the melt shop. Consequently, demand for raw material is low. The general business mood has also calmed down and order intake is weaker than previously expected. However, PMI indicators remain optimistic in most of the relevant economies. To support this, it will be crucial how the pandemic evolves over the next few weeks; latest developments in certain EU member states are offering something of a warning.
Read MoreJoost Van Kleef , Oryx Stainless B.V. (NLD), Chairman of the BIR Stainless Steel & Special Alloys Committee