Kari-Ulrich Koehler, chief executive of the big German steel company, told Dow Jones that the steel sector was likely to remain stable and robust.

He said demand for steel continued to show a healthy increase in the US as well as China, which has been the leader in steel consumption growth.

"Going forward, we cannot fulfil all the demand that we receive," Koehler said.

He said recent steel price increases were moderate given the expected price increases for raw materials, especially coal and iron ore.