|Sahit Muja: Global Steel Production|
Steel production at record of 1,500 million tons in 2012
Steel market will start recovering firmly in Spring
With the growth in the global economy the steel industry should continue on its recent improvement trend. Albanian Minerals expect global steel demand to increase of 7 per cent this year.
The steel industry worldwide has recorded high growth rates in both production and consumption over 2010 – 2011 benefiting from soaring steel demand in the automobile and construction sectors.
Price of steel is expected to increase .
Prices of main ingredients of steel iron ore, chrome ore will continue to increase.
Surging raw materials prices, and rising global commodities prices and inflation will also support steel prices world's steel production will reach a new record of 1,500 million tons in 2012.
The steel market will start recovering firmly in Spring to lead to a higher benchmark price for the second quarter, fairly reflecting the various cost raising factors, such as price rise of power, fuel and carbon reductants, higher costs to keep skilled workforce, increased royalties and taxes etc.
Presidenr and CEO