Steel prices have been wild this past year – from record highs in mid-July to the current barely-breakeven lows. Steelmakers have seen a dramatic decline in demand, with global output sinking about 25% in January and North American output down 50%, according to Reuters. The unprecedented volatility has left many people related to the steel industry wondering where things might go next.
While no one knows that answer, what they can do is prepare for the new economic reality that will come out of this global financial and economic crisis. This was the message presented by Pierre Mangers of PricewaterhouseCoopers Luxembourg at the Handelsblatt Stahlmarkt conference in Germany earlier this month.
Mangers told attendees that the steel industry needs a new …
A New Model Needed in the Steel Industry
Steel prices have been wild this past year – from record highs in mid-July to the current barely-breakeven lows. Steelmakers have seen a dramatic decline in demand, with global output sinking about 25% in January and North American output down 50%, according to Reuters. The unprecedented volatility has left many people related to the steel industry wondering where things might go next.
While no one knows that answer, what they can do is prepare for the new economic reality that will come out of this global financial and economic crisis. This was the message presented by Pierre Mangers of PricewaterhouseCoopers Luxembourg at the Handelsblatt Stahlmarkt conference in Germany earlier this month.
Mangers told attendees that the steel industry needs a new …
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