voda schreef op 13 december 2018 20:23:
EU demand for construction steel still well below pre-crisis levels - ArcelorMittal
Reuters quoted ArcelorMittal, the world's biggest steelmaker, as saying that Europe's demand for construction steel is down nearly 20 per cent versus its pre-financial crisis peak, with the market still battling excess capacity. EU steel prices have recovered sharply since hitting decade lows in late 2015, but investors are growing concerned that the sector will struggle if China's economy slows further as the trade dispute between the United States and China drags on. China produces and consumes half the world's steel, a global industry seen as strategic for growth and national security.
Mr Augustine Kochuparampil, chief executive of ArcelorMittal Europe, Long Products, told reporters at a briefing in Paris "We have huge overcapacity in long (construction) steel in Europe. European mills used 65 per cent of their capacity in construction steel last year. In 2007 they used 80 per cent - a level investors say indicates a healthy industry where mills have pricing power.
Mr Kochuparampil said that EU demand for long, or construction steel, is forecast at 57 million tonnes this year versus 69 million tonnes in 2008.
Source : Reuters