Germany''s top steelmaker ThyssenKrupp warned of volatile raw material prices and Chinese competition.
ThyssenKrupp said on Friday it did not expect a significant increase in real consumption this year, particularly in Europe, but demand from emerging countries was set to keep growing.
Despite its upbeat tone, it saw some clouds on the horizon. It said “A further expansion in capacities worldwide means there is also a risk of rising European imports from third countries, especially China, where domestic demand growth has slowed in recent weeks.”
It added that “The increasing power of the raw materials producers, rising demand and also speculative elements mean there could be major price swings in the coming quarters.”