„India and China are not the Problems“

More+Comment ♦ Published: June 5, 2012; 11:34 ♦ (Vindobona)

Voestalpine´s CEO Wolfgang Eder thinks that competitors from Turkey, Russia and Ukraine may become problematic for the European steel industry.

„India and China are not the Problems“ / Picture: © Voestalpine AG

According to Eder, the European steel industry suffers from overcapacities. The production capacity would reach about 210 million tons per year. This was the demand volume in 2007. However, the current demand would only amount to € 160m. Within the next ten years, the peak level will not be reached again, he thinks. „There is an overcapacity of 20% at least. This causes relatively…