Global steel market is expected to recover slightly by the beginning
of next year as weak demand and low prices have continue to squeeze company’s
earnings in the ongoing year, according to an industry survey conducted by the
Financial Times.
According to the survey, which included 20 steel executives and analysts, world
steel production is to rise by 2.9% during 2013, supported by a 3.5% Y-o-Y increased
output in China.
2013 would be a “survival” year for many producers of the metal, said
Chairman of Duferco, world’s biggest steel trader. “Overall industry is to
remain with a large amount of over-capacity leading to low profit margins, with
consequent unsatisfactory results for the steel mills.†He further added.
Sourced
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