The European economy has been showing some weakness of late in terms of growth rates; in its biggest economy, Germany, the leading PMIs are reporting a continued decline. Domestic demand seems to be robust but exports by the machinery, chemical and car industries in particular are still underperforming. The main reason is slower growth in China owing to its continuing trade conflict with the USA.
However, growth in China’s stainless crude output has exceeded expectations, most of this coming from Tsingshan China. Lately, the company seems to have switched production from Indonesia to China.Read More
Joost Van Kleef , Oryx Stainless B.V. (NLD), Chairman of the BIR Stainless Steel & Special Alloys Committee