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Is 2013 going to be a difficult year for ferrous metals?

Date: Thu, 31 Jan 2013 | Author: Paul Sanderson

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After a difficult 2012, BIR Ferrous Division president Christian Rubach is predicting the same for this year.

In the latest BIR World Mirror for ferrous metals, he noted that 2012 was a difficult year.

He added: “Looking at the latest press release from worldsteel a few days ago, steel production statistics recorded by the various countries and continents again reveal a highly diverse picture: Asia and North America enjoyed positive growth rates of, respectively, 2.6 per cent and 2.5 per cent whereas EU steel production shrank, most notably in Spain and Italy by, in turn, 12.1 per cent and 5.2 per cent.

“Europe is economically ‘the sick man’ and its political future is still unclear. I personally fear that 2013 will not be the year of a positive turnaround in Europe’s fortunes – its current plight may last into 2014 or even longer.

“The global challenges for our industry – such as overcapacity, trade barriers and export restrictions – are also far from being resolved.

“New and dangerous challenges continue to be added. Bank of England governor Mervyn King warns of a “currency war” and of the run for devaluation.”

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