Debt Crisis Reaches Steel Industry

Companies ♦ Published: October 12, 2011; 19:07 ♦ (Vindobona)

The CEO of Austrian voestalpine expects stagnation in European steel production volumes. Declining commodity prices might reduce margin pressure.

Debt Crisis Reaches Steel Industry / Picture: © Voestalpine AG (Blast Furnace A)

European steel producers start feeling the effects of the difficult situation on the financial markets. “For the time being, we do not expect prices to increase”, said Wolfgang Eder, CEO voestalpine, in an interview with “Financial Times Deutschland”. September did not bring any growth in demand. “Consumers’ uncertainty resulting from the debt crisis starts to affect the…