Complete Steel Collection
Optimism about steel market conditions by Lakshmi Mittal
5. 5. 2009
Lakshmi Mittal CEO and chairman answered questions about ArcelorMittal’sQ1 financial results and the conditions about steel market in a webcast recently. He believes that steel market will improve in the months ahead as demand from China re-emerges and global stock levels start to dwindle. Sales in the US’s Service centers have fallen 30% over the past six months, which is the lowest absolute number since 1991. “We believe that US demand is expected to improve in the coming weeks with prices to follow shortly afterwards,” Lakshmi Mittal said. According to him, the crude steel production during March was
down 45.6%, but prices for some products are rising, including rebar, while base prices for stainless steel are also up.
Apparent demand in China has grown 40% since October. Real demand is also growing and capacity utilization at some plants is back to 90%, he said.
Demand in India is increasing and there are also signs of recovery in the Middle East. AM will continue monitoring the situation in India, where the company has postponed plans for two 12mt/y plants in Jharkhand and Orissa.
