German metals distributor Kl??ckner & Co has upgraded its originally negative earnings forecasts for both the third quarter and the full year of 2020 due to the steel market's recovery from the effects of Covid-19, the company said on Thursday September 24.
Gradual recovery in the demand for steel in the company's core markets in Europe and the United States, along with improving pricing, especially in September, was expected to have a positive effect on Kl??ckner's earnings in the July-September quarter."In the course of the third quarter, the negative effects of the Covid-19 pandemic on Kl??ckner & Co's operating business were further mitigated,"...