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Steel weak on overcapacity, may not gain strength soon

Posted on 18 November 2013

With excess crude steel production, over capacity and weak demand, steel industry continues to be in the doldrums but opinions differ on how soon the market may witness recovery. Performance of Tata Steel, India’s largest steel maker gives some room for optimism in the near term.
According to World Steel Association (worldsteel), crude steel production in September rose 6.1% on a year-on-year basis at 133 mn tons although production in the first nine months rose by 2.7% compared on an annualised basis.China’s crude steel production for September 2013 was 65.4 Mt, up by 11.0% compared to September 2012………………………………………..Full Article: Source


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