European Steel Market Faces Further Consolidation ...Middle East

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European Steel Market Faces Further Consolidation
source : OILPRICE ( Middle East ) () 59
Via Metal Miner ThyssenKrupp Steel (TKS) recently announced plans to cut up to 11,000 positions. In a blow to the struggling EU steel market, the German steelmaker stated it would also reduce rolled production by an average 23%. “This is the company’s response to the further consolidation of fundamental and structural changes in the European steel market and in key customer and target markets,” the steelmaker said in a November 25 announcement. “Increasingly, overcapacity and the resulting rise in cheap imports, particularly…

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