10 March 2023 – A major German aluminium smelter reports it will begin the shutdown process due to high electricity costs. And good news from Germany. Rising exports, growing orders and high demand for heat pumps – good outlook for stainless steel.
German aluminium smelter shuts down
The Rheinwerk aluminium smelter in Neuss, Germany, will be shut down completely, according to the Speira Group. The reason given is high energy costs. The primary aluminium production of this smelter has an annual capacity of about 140,000 MT.
German economy working on recovery
According to the German Federal Statistical Office, new orders in the manufacturing sector increased by 1% in January 2023. At the same time, manufacturing production increased by 3.5%. German exports are also picking up noticeably, reaching €130.6 billion in January. This means that exports are up +2.1% on the previous month, or +8.6% on the same month last year.
Stainless steel for heat pumps
Good prospects also from the stainless steel sector – production of heat pumps in Germany rose by almost 50% in the first three quarters of 2022. Especially the heat exchanger systems of the pumps rely on stainless steel. The possible phase-out of gas and oil heating in Germany is likely to boost production here even further.
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Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.
