In Germany, if it finally emerges from the Corona crisis, all the signs point to an economic boom. And in Asia, prices for steel, nickel, iron ore and other key raw materials are rising again.
Is the boom coming? German economists see economy in “starting blocks
The German economy is running on two tracks. Industry is humming along despite the ongoing lockdown. In turn, the service sector is languishing. This was reported by the news portal n-tv.de over the weekend.
However, economists see a very good chance that the German economy will pick up fully as soon as the lockdown measures can be ended.
Once the pandemic is under control, there should be a real boom, according to economic expert Veronika Grimm.
Steel, nickel and commodity prices on an upward trend
The week is off to a strong start for steel, nickel and commodity prices, especially iron ore. Robust demand and growing concerns about the supply situation for Chinese steel, have fueled prices and sent them up as much as 4%.
More Chinese provinces with production cuts
China has now also targeted domestic steelmakers in Shaanxi and Hebei provinces and started implementing production controls and environmental standards. This means that not only Tangshan and Inner Mongolia are affected.
This has pushed Chinese steel futures to an all-time high writes nasdaq.com today.
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