Karl Ulrich Koehler, head of TATA Steel Europe, said that demand and prices for steel in Europe will rise again after several years of decline. Koehler said demand growth is expected to be 3 to 4 percent as the industry has already passed its trough in 2014.
We expect prices to rise. However, metallurgy Europe has not yet fully recovered from the recession after the financial crisis in 2008. Many steel producers are still in the red, including TATA Steel Europe, the second largest producer in Europe. Meanwhile, the good news for steelmakers is an improvement in their purchasing power in the industry resource market. Since iron ore and coal have become cheaper in recent months.
ArcelorMittal SA, the world's largest steel producer, also raised its forecasts for demand in Europe and the US this month, highlighting strong demand from the automotive and engineering sectors.
Tata Steel's European operations began in 2007 with the $ 13 billion acquisition of UK steel company Corus, which contributed to more than 27 million tonnes of steel output, or approximately 57 percent of its total steel production in the last fiscal year ending at the end of March.
Steel demand in Europe should rise again
|
Azovpromstal® 4 October 2014 г. 10:13 |
