The German Glass Fiber market has continued to showcase a downward trend in September xxxx followed by August, primarily driven by cheaper imports from Asian countries including China and Malaysia, and declining freight rates.
Despite a surge in the downstream automotive sales in Europe, the Glass Fiber market remained relatively lull in September xxxx due to a significant fall in the economy which dampened consumer confidence during this timeframe. According to the German Federal Motor Vehicle (KBA), the downstream automotive sector saw an increase in new passenger car registration in September when compared to the previous month, while declined year-over-year. However, the increase in vehicle sales failed to stimulate new orders for Glass Fiber amid previously accumulated inventory levels and intense competition from the global market contributed to sluggish demand. The availability of ample inventory levels, coupled with lower freight...
