Steelmaker Salzgitter expects 2020 loss to top 100 million euros
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FRANKFURT (Reuters) - Germany's second-largest steel maker Salzgitter said on Wednesday that it expects to post a significant 2020 pre-tax loss, most likely of more than 100 million euros ($109 million), as the coronavirus pandemic weighs on its business. Steel demand is plunging as many sectors are facing the threat of a recession, Salzgitter said, adding that key customers such as the automotive industry are bracing for a decline of more than 80%."The stabilising tendencies on the European..