Mr. Wolfgang Eder, the president of the European Steel Association (Eurofer), said the steel demand in Europe will increase next year by at least 2% after three years of decline. Customers began restocking since summer. If this situation continues, prices could be expected to recover at the beginning of 2014. However, the global steel markets still remain over-supplied even with the increased demand. Currently, the estimated excess steel production amounts to 30 million to 50 million tons in Europe, and 300 million to 500 million tons globally. Germany's Thyssen-Krupp AG has been hit hard by this decreasing steel demand.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=66580&division=A6
