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Italy’s steel output to plunge sharply in Q1, 2009

Italian steel output is expected to fall by 30% to 35% in the first quarter of 2009 because of weak demand though the production may recover in the coming months.
Overall, Italian steel output had already fallen by 4.7% to 30.5 million tons in 2008, said Mr. Giuseppe Pasini, Chairman of Italy’s steel makers body Federacciai.

Mr. Pasini also mentioned the bad situation is expected to last the whole year because there is slight improvement expected in the following quarter. He believed the demand for steel has no rush schedule to retrieve at present due to weak purchase from end users.
Source: Yieh.com

Mar 7, 2009 12:08
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