Posted on 10/07/2012 in category Ferrous

BIR World Mirror on Ferrous Metals - July 2012

PRESIDENT'S OPENING REMARKS
by Christian Rubach, TSR Recycling

Dear friends and colleagues,

I am happy to present the latest edition of the Ferrous Mirror before the start of the summer holiday season.

When we met last time in Rome, business sentiment was not too positive. The last five weeks have proved that we were not wrong. Discussions about overcapacity in the steel industry are spreading again after not having been an issue - publicly, at least - since 2003/04. The President of Eurofer estimates today’s overcapacity in the EU is up to 25% or 50m tons. Other experts estimate overcapacity in China to be 300m tons in the long run.

The markets are changing dramatically - as can be seen, for example, from ThyssenKrupp’s change of strategy as the company is in the course of selling its completely new plants in Brazil and the USA. Other players are entering the international markets - for example, Russia. As Russia becomes a member of the World Trade Organization from September 2012, it will no longer limit its steel exports by quotas...

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