European Foundry Industry Sentiment, November 2021: Throwback at the end of the year
While the assessment of the current business situation for non-ferrous metal foundries has been declining in stages since June, the situation for iron foundries has so far remained stable at a high level due to the very good order situation from the mechanical engineering sector. However, due to the considerable cost explosion for raw materials and energy, the business situation has now deteriorated significantly. Meanwhile, there is no prospect of improvement in the coming months. The negative trend in expectations for the next six months continues. The new Omicron variant of the coronavirus, which seems to be more infectious than the dangerous Delta variant, is causing uncertainty and concern, similar to the second wave of infection last year before Christmas. Booster vaccinations need to be ramped up across Europe soon to avoid further overloading of health systems and worsening consequences for society and the economy. At the same time, the Business Climate Indicator (BCI) remains on a high level in November. The slight increase of 0.05 points brings the index to its to 1.80 points. In particular, the sales price expectations for the coming months are increasing the BCI.  

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