European steelmakers will continue to face slowing demand and worsening profitability due to wider market downturn and serious global trade conflicts, as well as the upcoming Brexit, which will erode supply chains and consumer confidence, according to Moody's forecast.
2019 saw a tough time for European steelworkers. Thyssenkrupp constantly warns of declining profits, Tata Steel announces massive layoffs across the board, and British Steel is on the verge of bankruptcy.
The European Commission recently planned to impose a carbon tax to protect European steel producers and other energy-intensive sectors from cheap imports from countries with less stringent climate policies. The plan was expected to be tested primarily in the steel, aluminum and cement industries.
European steelmakers face tough times in the future
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Azovpromstal® 12 December 2019 г. 12:33 |
