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Home  /  Forum  /  Arcelor Mittal  /  Nieuws en info hier plaatsen (deel 3)

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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 23,850 19 apr 2024 16:08
  • +0,050 (+0,21%) Dagrange 23,440 - 23,840
  • 1.572.720 Gem. (3M) 2,4M

Nieuws en info hier plaatsen (deel 3)

1.513 Posts
Pagina: «« 1 ... 4 5 6 7 8 ... 76 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 16 oktober 2012 19:56
    Chinese steel prices continues vacillating as usual

    Opening of week 42 was predictably weak after climbing nearly 4% last week. As usual the prices were due for correction unsupported by end use demand. Primarily speculative buying has kept the steam on after the National Holiday. Steel prices dipped by 1% taking the sheen of last week’s rally .

    The most-traded rebar contract for January delivery on the Shanghai Futures Exchange closed down 1.6 percent at CNY 3582 per tonne ($570), after hitting a session low of CNY 3568 per tonne, reflecting slow end-user demand and putting pressure on iron ore prices.

    Despite some encouraging fiscal measures and stimulus package lately the market remained lackluster in expectation of affirmative reduction in lending rates to give boost. Infrastructure projects have gestation period of nearly year to show perceptible impact on steel demand in the short run.

    Mills are staying cautious on the recent price recovery of over 10% since early September with gloomy outlook on increase in end-user demand. Bao Steel rolled over the price into November confirming the fears and sending negative signal to the market.

    Price undulation is unlikely to abate owing to slippery fundamentals.

    know exact prevailing steel prices in China on daily basis, subscribe to services of SteelHome by sending a mail to admin@steelprices-china.com

    Source - Strategic Research Institute
  2. forum rang 10 voda 16 oktober 2012 20:51
    Voor de TA adepten:

    ArcelorMittal: het neerwaartse risico overheerst
    Door Tradingcentral op 11 okt 2012 om 13:20 | Views: 300

    Ons omslagpunt staat op 13.45.

    Onze voorkeur: zolang 13.45 niet opwaarts doorbroken wordt, geven we de voorkeur aan een neerwaartse beweging met 11.05 en vervolgens 10.55 als volgende koersdoelen.

    Alternatief scenario: alleen een opwaartse doorbraak van 13.45 zal ons negatieve scenario ontkrachten. In dit geval zal een herstel optreden richting 13.9 in eerste instantie en daarna 15.06.

    Technische commentaar: De dagelijkse technische indicatoren vertonen een neerwaartse trend en vragen op middellange termijn een daling naar 10.55.

    steunpuntenenweerstanden: 15.06 **, 13.9 **, 13.45 **, 11.365 , 11.05 , 10.55 **, 10.15 **, Copyright 1999 - 2012 TRADING CENTRAL

    Zie link voor grafieken:

    www.iex.nl/Column/86007/ArcelorMittal...
  4. viermeiden 17 oktober 2012 10:19
    L.s.,

    Omslag van krimp naar groei voor industrie

    09:31 17-10-2012
    AMSTERDAM (AFN) - De Nederlandse industrie zal volgend jaar een omslag naar groei doormaken, vooral dankzij de aantrekkende mondiale economie en wereldhandel. Daarbij zullen de machine-industrie en chemiesector de kar trekken. Dat schrijft ABN Amro in een woensdag verschenen rapport.

    De omzetgroei komt volgend jaar naar verwachting uit op 3 procent, vergeleken met een krimp van 0,5 procent dit jaar. De economen voorzien voor de producenten van machines een omzetstijging van 8 procent in 2013. Voor de chemiesector, de enige tak van de industrie die dit jaar ook al groeit, komt de expansie volgend jaar uit op 5 procent. ,,Ook andere industrietakken als bouwmaterialen, metaalproducten, rubber- en kunststofproducten en voedingsmiddelen zullen groei laten zien maar op een bescheidener schaal'', aldus ABN Amro.

    De economen becijferde dat de wereldeconomie volgend jaar licht groeit, van 3,1 procent in 2012, tot 3,5 procent. De eurozone laat naar verwachting een ommezwaai zien van een krimp van 0,5 procent tot een kleine groei van 0,2 procent. In de Verenigde Staten bedraagt de economische groei in 2013 naar verwachting 2 procent en in China, een van de belangrijkste economieën ter wereld, 8 procent.

    Het bruto binnenlands product (bbp) van Nederland groeit volgens ABN volgend jaar met een half procent. Voor dit jaar wordt een economische krimp voorzien van 0,4 procent.

    viermeiden
  5. forum rang 10 voda 17 oktober 2012 16:38
    Shandong iron and steelmaking capacity cut over 10 million tonnes

    As of 2015, Shandong ironmaking and steelmaking capacity cut will achieve 21.11 million tonnes and 22.57 million tonnes separately.

    In 2009-2011, ironmaking and steelmaking capacity reduction totaling 13.337 million tonnes and 3.343 million tonnes. In the year of 2012, Taishan Steel eliminated ironmaking capacity of 700,000 tonnes; Nanjinzhao Group cut steelmaking capacity of 400,000 tonnes.

    In 2013, Rizhao Steel will eliminate ironmaking capacity of 3 million tonnes, and the steelmaking capacity reduction from Rizhao Steel and other six steel mills totaling 5.85 million tonnes.

    In the year 2014-2015, Rizhao Steel will cut ironmaking capacity of 4.1 million tonnes, Jinan Steel, Rizhao Steel and Shandong Shiheng Special Steel Group Co Limited will cut steelmaking capacity accumulating 8.09 million tonnes.

    Source - www.steelhome.cn/en
    China steel information centre and industry database
  6. forum rang 10 voda 17 oktober 2012 16:40
    WISCO produces high end railway steel for high speed railway

    At the end of 2012, it only takes four hours to arrive Beijing from Wuhan city. For this amazing journey, Wuhan Steel has made lots of efforts for it.

    In the first nine months, Wuhan Steel produced 170,000 tonnes of heavy rail for the main construction.

    Steel mills could earn more profit if they produce high end heavy rail. In March this year, Wuhan Steel exported 12,000 tonnes of heavy rail to West Africa.

    Source - www.steelhome.cn/en
    China steel information centre and industry database

  7. forum rang 10 voda 17 oktober 2012 16:41
    JSW Steel to raise USD 1 billion in overseas loans

    Bloomberg reported that JSW Steel Ltd plans to raise USD 1 billion in overseas loans to cut interest costs and boost profit amid falling prices.

    Mr Seshagiri Rao group CFO of JSW Steel Ltd said that the funds will be used to pay rupee debt of JSW Ispat Steel Ltd after absorbing the unit, which the parent company acquired almost 2 years ago. JSW Ispat, which has a debt of INR 70 billion, pays about 11% interest, while JSW Steel pays 7%.

    Mr Rao said that “JSW Ispat remains a positive story for us and with reduced costs, it should show a turnaround. We are seeking the Reserve Bank of India’s approval to raise foreign loans.”

    According to Worldsteel, curbs on iron ore mining and high interest costs have hindered JSW Steel’s effort to turn around the unit. Slowing demand and a decline in steel prices are prompting mills to try and cut borrowing costs and use lower grade raw material. India’s steel demand is forecast to grow 5.5% this year and 5% next year.

    Source - Bloomberg
  8. forum rang 10 voda 17 oktober 2012 16:43
    US Steel Industry Outlook to 2015

    US steel industry is one of the world's largest steel industries both in terms of production and consumption. In 2011, the country secured third position, globally with nearly 5.7% share in crude steel production. The industry has benefited from soaring steel demand in the automobile and construction sectors. Moreover, the cost effective and highly efficient steel making technologies worked as a catalyst and uplifted the US steel demand in the international markets.

    According to our new research report, "US Steel Industry Outlook to 2015", the US steel industry has been playing an important role in the overall economic development. This can be attributed to the increased production and consumption level in 2011 with respect to the previous year. Further, crude steel production increased more than 7% in 2011, while consumption increased around 11% during the same period. We expect that, the trend will continue in future also due to the increase in consumption from various industrial sectors.

    As per our research, continuous cast steel process accounts for major steel production in United Sates. Product-wise, flat products' production accounts for the major share in total steel production, followed by long products and seamless tubes. Our report covers the further break up of long products production into concrete reinforcing bars, bars and wire rods and flat products into electrical sheet & strip, tin mill and other metallic coated sheet & strip.

    In addition, the consumption section in the report covers the consumption by type of product, which represents that flat products account for the major share in total steel consumption in the country. Further, the report covers the finished steel consumption by product including stainless steel sheet or strip, plate, bar, rod and wire.

    While analyzing the gathered information, it was found that, construction sector accounts for the maximum share in the overall steel consumption. It is the material of choice of various sections of construction industry due to its strength, reliability, strong performance, consistency, and versatility in designing. US Architects and engineers increasingly prefer steel over others for the construction of residential and commercial buildings. In addition, other market classes, such as automobile, energy, container etc. have contributed to the rising consumption of steel.

    Our report "US Steel Industry Outlook to 2015" is an outcome of comprehensive research and unbiased analysis of the US steel industry and its various segments to present a clear picture of the past and present market trends. It evaluates the existing market opportunities in relation with the factors driving steel demand. The report also contains information about steel pricing and government stimulus package to bring the industry back on growth track.

    Additionally, the report has presented projections for steel demand across different vertical industries to provide a rough idea about the direction, in which, the steel industry is likely to move in future. The competitive landscape segment mainly focuses on key industry players and provides valuable information about their business description together with financial analysis.


    Phalguni Pukhrambam
    Senior Research Associate
    +91 124 4048993 Phone
    +91 124 4048994 Fax
    +91 97162 55421 Mobile
  9. forum rang 10 voda 17 oktober 2012 16:45
    Lakshmi Mittal group emerges top Iran oil buyer

    Reuters reported that India's HMEL, part owned by steel tycoon Lakshmi Mittal has emerged as a new oil client of sanctions-hit Iran, potentially complicating New Delhi's bid for a renewal of its waiver from US sanctions for buying crude from Tehran.

    Two sources with knowledge of the deals said that HPCL Mittal Energy has taken two shipments of Iranian oil since the start of September to maximize margins at its 180,000 barrels per day Bathinda refinery in northern India. The purchases came to a total 2 million barrels.

    In June Washington granted India a waiver on sanctions that would have cut it off from the US financial system because it had reduced its purchases of the OPEC nation's oil. India's waiver from the sanctions which are designed to dissuade Tehran from pursuing its nuclear program will only be renewed in December if imports have been cut further.

    Mr Mark Dubowitz US lobbyist for tougher sanctions on Iran and head of the Foundation for Defence of Democracies said that HMEL was taking a significant risk in buying this oil. The US government in December will be looking to see whether India has indeed significantly reduced its purchases of Iranian oil and the addition of one more customer especially with significant exposure to the US and Europe will raise eyebrows in Washington."

    A spokesman for Mittal said that he could not confirm or deny the purchase but said that being a minority shareholder, Mittal himself would not be involved in such decisions. While India's state run refiners are adhering to the government's verbal order to cut imports from Iran by at least 15% their efforts could be undermined by private refiner Essar and now HMEL.

    An official at a state run refiner said that "We are cutting imports from Iran at the cost of our bottom line and private refiners are increasing volumes at our cost. This may hit the plan to get the waiver renewed and shows discord between private and public companies. We are the only ones helping the country."

    Essar sources however said that their Iranian crude purchases would average 85,000 barrels per day in financial 2012 to 2013 a decline of 15% from an originally contracted 100,000 barrels per day. From April to August Essar has bought an average 102,000 barrels per day.

    Source - Reuters
  10. forum rang 10 voda 17 oktober 2012 16:47
    ArcelorMittal launches a new range of organic coated steels

    ArcelorMittal has launched a range of organic coated steels that have eliminated the need for the chemical Strontium chromate (SrCrO4). This chemical that has been used by the construction industry in coated steels for decades will be banned in 2016 under the European REACH regulatory framework (Registration, Evaluation, Authorization and Restriction of Chemical Substances), which came into force on June 1st 2007.

    Long standing research programs undertaken by ArcelorMittal Flat Carbon Europe in partnership with paint suppliers have led to the development of new corrosion inhibiting pigments, such as polyphosphates, silicates and ion exchange resins. These effective, neutral and durable substitutes are the result of nearly 15 years of research by ArcelorMittal.

    As the world's largest and most innovative steelmaker, ArcelorMittal has long led the way in developing sustainable steel solutions for the construction industry, and the Nature range is the latest stage in that long and proud tradition. In 2011 alone, ArcelorMittal invested USD 306 million in researching and developing new steel products, solutions and processes to support a low carbon world, demonstrating the sustainable advantages available through product innovation.

    For many years, steel has been the responsible choice for the construction industry. Its natural advantages - strength and flexibility - coupled with its infinite recyclability mean that steel recovery within the construction industry is as high as 85%.

    Organic coated steel is widely used in the building industry, in façades, roofing, capping, ceilings and lighting. In these different applications, the coating ensures that the product can withstand the effects of weather and corrosives.

    The benefits of the ArcelorMittal Nature collection are:

    Free of hexavalent chromium compounds (SVHC)
    Free of lead and other heavy metals
    Guaranteed for up to 30 years
    Fully tested by our R&D experts to extreme corrosion and weathering conditions, both in the laboratory and outdoors
    Innovative aesthetics for a more harmonious integration in the environment
    Reflective coatings allow more comfortable living conditions, reducing indoor temperatures by a few degrees in hot and sunny environments

    Source - ArcelorMittal
  11. forum rang 10 voda 17 oktober 2012 16:48
    ArcelorMittal Skopje presents new EUR 3.5 million galvanizing furnace

    ArcelorMittal Skopje has presented its new EUR 3.5 million galvanizing furnace to its partners, as part of the company's 2012 Customer Day. The event, on October 4th 2012, gave customers the opportunity to see the state of the art annealing technology that has been installed to galvanize steel sheets.

    Mr Juan Pedro Jimenez Navarro CEO of ArcelorMittal Skopje said that "ArcelorMittal Skopje continues to invest in state of the art technology to ensure the company delivers the best quality products, on time, in line with the demands of our customers and meeting health, safety and environmental regulations."

    The new furnace is more environmentally friendly, the plant's CO emissions have been reduced by 98%, while natural gas consumption has been cut by 35% (which also reduced CO2 emissions) and will also allow the company to increase the services, quality and production available to customers.

    The investment forms a major part of the development plan for ArcelorMittal Skopje, which ranks in the top 10 of Macedonia's biggest companies and is part of the group's development strategy for the region and for Europe.

    ArcelorMittal Skopje has more than 550 employees and through its 400 dealers has sales of EUR 88 million. The plant the capacity to produce more than 200,00 tonnes a year of cold rolled coil, organic coated and hot dip galvanized products, serving markets including: Albania; Bosnia & Herzegovina; Bulgaria; Croatia; Greece; Kosovo; Romania; Serbia and Slovenia.

    Source - ArcelorMittal
  12. forum rang 10 voda 17 oktober 2012 16:49
    US weekly raw steel production continues on downward trend

    American Iron & Steel Industries reported that, in the week ending October 13th 2012, US domestic raw steel production was 1.736 million tons while the capability utilization rate was 70.3%. Production was 1.781 million tons in the week ending October 13th 2011, while the capability utilization then was 71.9%.

    The current week production represents a 2.5% YoY decrease from the same period in the previous year. Production for the week ending October 13th 2012 is down by 1.2% WoW from the previous week ending October 6th 2012 when production was 1.757 million tons and the rate of capability utilization was 71.1%.

    Adjusted YTD production through October 13th 2012 was 77.703 million tons, at a capability utilization rate of 76.7%. That is a 4.1% YoY increase from the 74.655 million tons during the same period last year, when the capability utilization rate was 74.5%.

    Broken down by districts, here's production for the week ending October 13th 2012:

    1. North East: 209
    2. Great Lakes: 600
    3. Midwest: 247
    4. Southern: 596
    5. Western: 84

    (In thousands of net tons)

    AISI's estimate is based on reports from companies representing about 75% of the US's raw steel capability and includes revisions for previous months.

    Source - American Iron & Steel Institute

  13. forum rang 10 voda 17 oktober 2012 17:00
    Iron ore slips slip toward USD 110 per tonne

    Reuters reported that spot iron ore slipped on Tuesday as lower steel prices in top market China discouraged steel mills from buying more of the raw material after some replenished stockpiles last week.

    Slow Chinese steel demand and uncertainty over when it will pick up significantly have forced producers to limit iron ore purchases, trapping prices in narrow ranges below USD 120 a tonne and clouding prospects for the raw material to rebound to this year's highs.

    According to Beijing based consultancy Umetal, price offers for iron ore cargoes in China from top exporter Australia fell by a dollar per tonne on Tuesday.

    A further price drop in spot transactions should push down the benchmark 62% grade iron ore. The price fell 1.3% to USD 113 a tonne on Monday, based on data from information provider Steel Index.

    Despite recovering from last month's three-year low below USD 87, the price is still about a quarter below this year's high of USD 149.40.

    Source - Reuters
  14. forum rang 10 voda 17 oktober 2012 17:01
    FMG expects iron ore price at USD 120

    Fortescue Metals Group expects the iron ore price to stabilise at around USD 120 per tonne as stimulus in China generates increased demand for steel.

    The iron ore miner said its average cost including freight for the September Quarter was USD 98 per dry tonne reflecting the decrease in global iron ore prices.

    Fortescue said it recorded an annualised shipping rate of more than 64 million tonnes during the quarter, ahead of guidance, despite disruption from maintenance and expansion activities.

    During the quarter Fortescue shipped 16.1 million tonnes, up 30 per cent on the previous corresponding period (pcp).

    "It is Fortescue's expectation that the 62 per cent iron index price will stabilise in the short term at approximately $US120 per tonne as the Chinese government prepares for its leadership transition in November and stimulus packages generate increased demand for steel and re-stocking at Chinese steel mills," Fortescue said.

    While the market remained volatile due to the oversupply of steel and low steel prices, most industry analysts expect the iron ore price to stabilise at approximately $US120 per tonne based on the global cost curve and the supply demand balance, Fortescue said.

    The company said cost guidance for fiscal 2013 remained at $US45 to $US50 per wet tonne.

    Fortescue said it remained committed to completing its Kings mine at the Solomon hub in the Pilbara and expanding to 155 million tonnes per annum following the completion of the distribution process for the $US5.0 billion ($A4.90 billion) senior secured credit facility.
    Fortescue said it remained committed to completing its Kings mine and expanding to 155 million tonnes per annum following the completion of the distribution process for the $US5.0 billion ($A4.90 billion) senior secured credit facility.


    Follow thewest.com.au on Twitter

  15. forum rang 10 voda 17 oktober 2012 17:03
    Iron ore supply to fall by 8.2% in October - Standard Bank

    Standard Bank Plc said that shipments of iron ore will be curbed by 8.2% this month after supplies shrank from from Brazil, India and South Africa.

    Ms Melinda Moore London based bulk commodity sales executive at the bank said that output losses from a strike ending today at South Africa’s Sishen mine, the country’s largest, are estimated at 1.6 million metric tonnes.

    Moore said that protesters in Brazil blocked a railroad transporting ore from the Carajas mine of Vale SA, the world’s biggest producer, for four days earlier this month, which equated to a loss of 1 million tons of shipments.

    Mining bans are further curbing 5 million tonnes of ore from leaving the Indian state of Goa in October.

    Moore said that “We estimate that 8.2% of seaborne supplies have been lost from the market in October due to these various policy-driven and protester incidents.”

    Source - Bloomberg
  17. forum rang 10 voda 18 oktober 2012 16:23
    ArcelorMittal koersdoel omlaag naar EUR15 - UBS


    AMSTERDAM (Dow Jones)--UBS heeft het koersdoel op ArcelorMittal (MT.AE) verlaagd naar EUR15,00 van EUR18,00, vanwege een verlaging van de verwachtingen voor het derde kwartaal en het gehele boekjaar op basis van de worstelende economie. UBS geeft aan dat een lagere staal- en ijzerertsprijs zijn tol zal eisen in het derde en vierde kwartaal, en verlaagt de verwachtingen voor de Ebitda over het derde kwartaal met 24% tot $1,3 miljard en voor de Ebitda over het gehele jaar naar $7,1 miljard van $8,1 miljard. UBS geeft aan niet te verwachten dat ArcelorMittal in de laatste maanden van 2012 convenanten zal breken. Gezien het negatieve sentiment rondom het aandeel, meent UBS dat elke aankondiging van afstoting van niet-kernactiviteiten het aandeel een impuls kan geven. het advies van UBS blijft buy. Woensdag eindigde het aandeel op EUR12,36. (EVG)


    Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@dowjones.com
  18. forum rang 10 voda 18 oktober 2012 16:44
    Two steps forward and one step backward in Chinese steel market

    Hair splitting observation of the pattern of prices undulation in Chinese steel market brings to fore definitive pattern on market advancing with pauses rather than escalating unbridled. A glance at the below table brings out definite undulating pattern with the curve going upward in summation.

    Advancing in decathlon loops the price after surging for the 10 days corrects in the following 10 days however it tanks at a higher level than the previous low. Holistically the price has gone up by 9% in the last 5 weeks indicating definite firming of sentiments and progression.

    Crouching under the halo of repeated CRR easing by government and the launch of an ambitious infrastructure stimulus package worth USD 150 billion certainly market has taken the cue albeit with pinch of caution. To some extent it can be imputed to the capacity rationalization and production cut leading to decimation of inventory instilling some confidence in traders stockiest.

    Anticipation of cut in lending rate as the inflation has been leashed at only 1.9% in September won’t be unfounded before the year closes and change of guard takes place in November. Grapevine has it that the new leadership would bring in some fresh policies fillip sagging demand in the reality sector as well as rural housing and automobile consumption .

    Iron ore market is replica of the finished steel with prices maintaining the same pattern during this period. After tanking at USD 94 per tonne on 10th September the price escalated peaking USD 119 per tonne on 10th October. Currently the prices levels have been clinging on USD 115-116 per tonne.

    Clearly all is not lost in the dragon land for the mills as well as miners catering to their needs.

    Source - Strategic Research Institute
  19. forum rang 10 voda 18 oktober 2012 16:45
    Chinese daily steel output up by 4pct in first 10 days of Oct - CISA

    Reuters reported that China's average daily crude steel output rebounded to above 1.9 million tonnes in the first 10 days of October 2012, as rising steel prices prompted mills to lift production even as the demand outlook for the rest of the year remains weak.

    Data from the China Iron & Steel Association showed that average daily crude steel output in the world's top steel producer rose to 1.916 million tonnes between October 1st 2012 and October 10th 2012, up by 4% from September 21st 2012 to September 30th 2012 period.

    Average daily steel production had been below 1.9 million tonnes from mid August 2012, with the slowing economy in China hitting demand and pushing steel mills to curb output.

    The latest round of gains in steel prices has encouraged steel mills to ramp up production, also lifting demand for key ingredient iron ore.

    Mr Qiu Yuecheng, an analyst with Xiben New Line Co Limited, said that "Steel has rebounded by CNY 300 to CNY 400 per tonne between mid September 2012 and early October 2012, so mills have restored profits and some have resumed production."

    Chinese steel prices have climbed more than 10% from a three year low hit in early September 2012, with demand picking up due to a seasonal increase in construction activity. But a lack of factors that could boost demand longer term and the rapid rise in output are expected to curb price gains.


    Source - Reuters
  20. forum rang 10 voda 18 oktober 2012 16:47
    TATA Steel Europe to invest GBP 1.5 billion till 2015-16

    PTI reported that TATA Steel will invest in excess of GBP 1.5 billion in its European operations till 2015-16 to spruce up its existing equipment and bring out new products, among others.

    Dr Karl Ulrich Kohler CEO & MD of TATA Steel Europe said that "We have given idea that over the five year framework, we want to invest some two billion pounds in European unit. In 2011, we invested GBP 450 million."

    Dr Kohler said that the investment would go into sprucing up the equipment, gaining efficiency and getting into development of new products. He said that "We are doing investments not only in getting capability of the existing equipment and the compliance to the environment relations, but also into efficiency gains and into new product capabilities."

    The steel major, had earlier this month, said it plans to invest GBP 400 million in the European operation during the current financial year to improve the performance of the unit and in areas which can provide quick returns.

    The investments, coupled with a series of other measures including lay offs and production cut, is aimed at making TATA Steel Europe an all weather company, fit to sustain and withstand a much worse condition than the current one.

    Dr Kohler said that "We have already taken some hard decisions and there are others to come. TATA Steel in Europe is on a clear strategy on how to improve our position in competition."

    TATA Steel's European unit (formerly known as Corus) has faced almost all through so far since it was acquired by the home grown steel major in 2007. The financial crisis in the Euro zone economies, which has led to subdued demand for last several quarters, was the main reason for the troubled time.

    Dr Kohler, however, does not see any positive change in the demand side even in the next fiscal. He said that "Forecast of demand is shrinkage of five per cent this year and we have today no signs that the next year will be a better year. As far as our company, we are not waiting for that. Our move would be getting into selling everywhere."

    The company has given an additional thrust on exporting more to compensate the shortfall in Europe, particularly in the coastal geographies, including North African regions, the Mediterranean area and Africa.

    It is even trying to complement TATA Steel's offerings in India with some special products from Europe.

    Source - PTI

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