Düsseldorf – In October 2019, crude steel production fell by 7 % compared with an already weak prior-year month. In the course of the year to date, production is now 5 % below the prior-year period. The steel industry in Germany faces extremely challenging economic conditions.

Brussels – The EU has launched a WTO challenge against Indonesian export restrictions on the raw materials used in stainless steel production. The European Steel Association (EUROFER) welcomes the announcement by the European Commission that they are taking Indonesia to the WTO.

Lucerne – Schmolz + Bickenbach has received notice from the Swiss Takeover Board that the requests of Martin Haefner/BigPoint Holding AG and Liwet Holding AG, respectively, regarding an exemption from the obligation to make an offer in connection with the planned capital increase regarding Schmolz + Bickenbach, have been rejected.

Moscow - 9M Revenue down 4% y-o-y at $3,667m. Russian division’s 9M Revenue up 4% y-o-y at $2,719m.

Essen - Index has again risen slightly to 139.9 in October according to the current flash estimate.

Paris – Trade conflict, weak business investment and persistent political uncertainty are weighing on the world economy and raising the risk of long-term stagnation, according to the OECD’s latest Economic Outlook.

Helsinki – Moody’s Investors Service has decided to downgrade Outokumpu’s corporate family rating to B2 from B1 and the probability of default rating to B2-PD from B1-PD.

Düsseldorf – For North American Stainless (NAS) in Ghent, Kentucky, SMS group  has successfully commissioned a torque retainer for the 160-ton AOD converter no. 1. The customer issued the final acceptance certificate shortly thereafter.

Tarent - AM InvestCo will follow the Court’s invitation to pause implementation of the orderly and gradual suspension of operations.

Lucerne - Parties have agreed on a fine of EUR 12.3 million.

Göppingen/Pune – Schuler’s affiliate Yadon is a success story also in India: In the last two years, more than 80 presses from the Chinese manufacturer have been sold in the country. About half of them with a press force ranging from 60 to 1,000 metric tons have already been installed at various metal forming companies.