According to report, the steelmaker and processor Veostalpine is seeing its total output this year will close to 8 million metric tons, about the same last year.
The company’s new expansion plan is in HBI in Texas by €550 million ton to construct facilities with annual capacity of 2 million tons of hot briquetted iron and DRI, aiming the half production to be consumed in local market.
Veostalpine also plans to construct new plants since it has automotive-related business in China, the US and South Africa for automotive components. Plants will be for processing products made in Austria.
However, the company did not see the demand in Europe will pick up. It sees the demand may be lower in 2013 and price may go down further.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64523&division=A9
