Global demand for all grades of steel is at record levels and will continue to hold up well into next year, said the head of ThyssenKrupp, in the most bullish remarks from a steel industry executive since the start of the worldwide economic recovery.
The comments bode well for steelmaking and mining, two of the top heavy industries.
Ekkehard Schulz, chief executive of ThyssenKrupp, which makes higher quality steel, said production was running at full swing and industry’s hunger for steel would exceed output capacities at Germany’s largest steelmaker. “Demand from the car, electronic and household appliances industries is very strong and we expect that to hold up well into next year,” He told the FT mes ahead of this weekend’s World Steel Association’s conference in Tokyo.