Steel Industry: „Up to 100,000 Jobs Endangered“

CommentOpinion ♦ Published: November 17, 2012; 13:21 ♦ (Vindobona)

Wolfgang Eder, CEO of the Austrian steel company voestalpine, warns of the persistently high oversupply in the European steel industry.

Steel Industry: „Up to 100,000 Jobs Endangered“ / Picture: © Voestalpine AG (Blast Furnace A)

Eder reaffirms that the European steel industry has to downsize. At the moment, steel production exceeds steel demand by far, Eder says. The capacity utilization only reaches about 70 to 75%, the manager explains. The steel production comes at 210 million tons per year. However, demand totals only 145 million tons.

Due to the downsizing activities, up to 100,000 jobs in the…