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Demand for construction steel in EU still low - ArcelorMittal

Steel News - Published on Wed, 12 Dec 2018

Image Source: SteelGuru
Reuters reported that ArcelorMittal said that Europe’s demand for construction steel is down nearly 20 percent versus its pre-financial crisis peak, with the market still battling excess capacity. Augustine Kochuparampil, CEO of ArcelorMittal Europe Long Products, said “We have huge overcapacity in long construction steel in Europe.”

He told “European mills used 65% of their capacity in construction steel last year. EU demand for long, or construction steel, is forecast at 57 million tonnes this year versus 69 million tonnes in 2008.”

In 2007 they used 80%, a level investors say indicates a healthy industry where mills have pricing power.

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Posted By : Sanju Moirangthem on Wed, 12 Dec 2018
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