The World's Largest Steel Enterprises Bet On the Recovery Of The European Steel Industry
Yesterday, based on the judgment of the European steel industry recovery, the world's largest steel enterprises ArcelorMittal announced that it will restart in Spain, France, two blast furnaces for expansion. It is noteworthy that, in the long ago, this steel giant has just called for the EU to develop trade barriers against Chinese steel industry, and accused China of steel down the global steel high capacity, and this is considered to be from its expansion to suppress China steel industry has benefited tremendously. (steel checkered plate)
The first quarter of this year, although to take down costs and improve efficiency of action has been made a little effect, but ArcelorMittal Group is still a net loss of $ 345 million, sales fell 13% to $ 19.75 billion, profit fell 26% to $ 1.57 billion. The face of poor performance and investor criticism, the company announced this year to maintain interest and tax depreciation and amortization (EBITDA) more than 7.1 billion U.S. dollars of the target, and stressed the annual steel shipments will increase by 2% salable iron ore by 20% or more.
ArcelorMittal company with ambitions in stark contrast to the economic situation in Europe still faces challenges. Significant improvement in market demand is difficult. This boasted steel company commenced shelling the Chinese steel industry. Not long ago, ArcelorMittal CEO urged the European Union on Chinese steel enterprises set up trade barriers to protect Europe struggling manufacturers.
His appeal also meets the EU's trade policy. In recent years, the rapid development of a number of competitive industries in China is viewed as a threat to the competitiveness of EU industry rivals, aiming to become the EU's trade policy objectives. (steel checkered plate supplier in China)
In the steel industry, for example, the EU is the world's second largest after China steel production market, the steel industry accounts for about 1.5% of GDP, 27 member states have 23 countries in the steel industry occupies an important position in industry. 2012, steel demands fell, overcapacity has become increasingly prominent. To this end, since last year, Eurofer complained several times to the European Union to promote the European market imported steel products from China is behind the surge in Chinese government subsidies, so that Chinese steel products as Europe and other countries wielding the big stick of trade protection to suppress the hardest hit .
Arcelor Mittal, said the EU should consider a higher levy on Chinese steel import tariffs, like solar panels made in China, as tariffs. Chinese iron and steel enterprises are overproduction, which depressed the global steel prices. "Either raise import tariffs, either from the national environmental standards, very low input European steel surcharged." ArcelorMittal representation.
