Archive for April 8th, 2009
ArcelorMittal hardens steel output cuts in Europe
ArcelorMittal steel announced on Wednesday that it would continue to suspend production in Europe, and a union official said this meant the group would slash the output by more than half.
ArcelorMittal, by far the world’s biggest steel maker, said after a meeting here with European union officials that "it is necessary to continue to suspend [...]
Posted: April 8th, 2009 under Steel International, Steel News.
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German steel output down by half in record fall
Reuters reported today that German steel production in March halved, continuing a downward trend, and the steepest fall in 19 years.
The Federal Statistics Office on Tuesday said 2.10 million tonnes of raw steel were produced in March, down 49.8 percent year on year.
Europe’s biggest economy has been hit hard by the global downturn, with manufacturing [...]
Posted: April 8th, 2009 under Steel, Steel International, Steel News.
Comments: 1
Steel and the credit crunch
The situation in the steel industry shows little prospect of improvement in the near future, and whilst trading conditions remain as they are cash flow will become an increasing problem, that unfortunately will lead to the demise of some players.
It is not only the low production levels, (total production in the first 13 weeks of [...]
Posted: April 8th, 2009 under Steel Comment, Steel International.
Comments: 1