According to report, Swiss special steelmaker and distributor Schmolz+Bickenbach said that it sees the steel growth will be outside of EU as European economies remains week and slow recovery from downturn.
The company aims on developments in India, Dubai, Indonesia and Thailand and some new potential in USA. The company also reported better performance in US and Canada than in 2011.
Its sales to EU countries, especially to German automotive sector were weak. Sales to Italy and Spain were also slow.
Its sales declined about 7% to 1.6 million tons for the first nine month of 2012, posting a new loss of euro 24 million, compared an euro 66 million profit same period last year.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=61661&division=A6
