Speaking about Electrical Steel Market.
Since the end of 2020 there has been a continuous increase in prices, prices that are managed by steelworks on a quarterly basis. We now have the sixth increase in a row due to the fact that demand in Europe is much higher than supply. What does the future hold for us?
This is a good question for which I have no answer. On one hand the cost level of steelworks does not seem to be going down in the coming months, but on the other hand, it depends very much on how the current demand can withstand these high levels. It’s very similar to what happened in 2008-2009. These uncertainties of the raw material market clearly make decisions about future investments rather difficult, and complicate the management of companies a lot.