Posted on 05/07/2013 in category Ferrous

BIR World Mirror on Ferrous Metals -July 2013

PRESIDENT'S OPENING REMARKS
by Christian Rubach, TSR Recycling

In troubled waters

It is just five weeks since we gathered in Shanghai for our latest BIR Ferrous Division meeting. One of our main guest speakers Peter Marcus, Managing Partner of World Steel Dynamics and one of the world steel market’s foremost gurus, was very outspoken: his picture of an old car stuck in the middle of a muddy road was intended to symbolise China’s outlook to 2014  or 2015. Today, the media are full of reports about China’s refinancing problems. It seems Peter Marcus was not too wrong.

Financial problems seem to be a reality for the whole industrial sector. On the other hand, the economic outlook for the Euro-zone and for the USA seems to have improved. Nevertheless, the world steel markets - and especially that of the Euro-zone - are still in a more or less poor condition despite the brighter outlook. Without the Chinese economy as a locomotive over the coming months, the prognosis is not so promising for our business.

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