The European Foundry Sentiment Indicator (FISI) close the crisis year with a cautiously positive signal.
CAEF has taken a closer look at the EU-UK Trade and Cooperation Agreement and compiled an overview with the most important details and links to much more useful information.
In November, the European Foundry Sentiment Indicator (FISI) remains at the previous month’s level despite exploding numbers of Covid-19 cases in Europe.
The CAEF Yearbook presents an overview of relevant data in unique depth and scope for the European Foundry Industry. A glance at the data shows that climate policy is more important than ever and that the structural changes that the manufacturing industry is experiencing in this context have already affected European foundries before the current Covid-19 pandemic. Balanced political framework conditions are therefore crucial to help foundries to emerge stronger from the transformation process, which is gathering momentum, as an important cornerstone of the circular economy and an innovative component of the manufacturing industry.
After the European Foundry Sentiment Indicator (FISI) has shown a negative sign in each of the past 6 months, this trend stopped in September. However, the psychologically important change of direction does not indicate an economic turnaround.
Dr. Roberto Ariotti, chairman of the Italian Foundry Association since 2013, was elected president of the Executive Committee at the council meeting of CAEF. He succeeds Mr Luis Filipe Villas-Boas, who had held the position for the last two years.
Dr Fynn-Willem Lohe was elected Interim Secretary General at the CAEF Council meeting. He succeeds Mr Heiko Lickfett, who has served as Secretary General since early 2019 and steps back for health reasons.
The third CAEF survey clearly shows that the foundry industry will need some time to catch up. In the coming weeks and months, the most important factor will be getting the pandemic back under control. The rising numbers in large parts of Europe are particularly worrying.
After a sharp drop and its lowest level in May, the Business Climate Indicator for the euro area recovered for the third time in a row in August. However, the signs of recovery have so far not been reflected in the mood among foundries. The European Foundry Industry Sentiment, as a result, has recorded a negative sign for the sixth consecutive month since February.
CAEF calls for a stimulation of demand while complying with the CO2-emission goals of the EU Green Deal: From the 16.8 million tons of castings annually produced by CAEF member states more than half goes into new vehicles. In addition, the production of machines and other engineering components from casting adds to the share of car manufacturers. However, current customers’ restraint from purchasing new vehicles reinforces the already grave financial distress. Therefore, the main question is how to stimulate demand without jeopardizing the ambitious but crucial CO2-emission goals of the EU Green Deal.