January 2012 | Steel Tracker
Go green, cut costs and save your company...
...or what ArcelorMittal Krakow’s investment strategy and the show of muscle in the Strait of Hormuz tell us about the greener future of steel.
Two pieces of superficially unrelated news caught our cost-conscious attention late last week. Firstly, the EU’s decision to phase out Iranian oil contracts by 1 July 2012 and switch from embargoed Iranian supplies to Saudi emergency capacity, suggests that crude oil and fuel prices will stay high. This is particularly true for European users and steelmakers, which are the most prone to suffer price increases when supply shocks occur in the Middle East. The impact of the Libyan revolution on the Brent contracts in 2011 was a reminder of the European exposure to the region. The second piece of news came from ArcelorMittal, the largest steel producer in...
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