Germany's steel sector will see growth pick up in coming months as manufacturers such as ThyssenKrupp and Salzgitter benefit from the weak euro and increasing demand from the auto industry, the German Steel Federation said on Monday.

Despite a two percent drop in production in the first quarter, the association expects annual output from German steel producers to rise by one percent to 43.3 million tons this year, President Hans Juergen Kerkhoff said.

EU steel mills have lost market share in recent years as cheap imports surged from countries such as China.

In 2007, German steel producers had a combined output of 48.3 million tons.

 

economictimes.indiatimes.com

Report Abuse