February 2012 | Steel Tracker
Mills struggle through Q4: International Flat Product Market Analysis
Brazil’s automotive industry association has revealed a sharp decline of 19% month-on-month production levels.
The announcement of the fourth quarter earnings by steel mills and trading houses hasn’t made for bullish reading. The wild swings throughout the fourth quarter have negatively affected both buyers and sellers alike. ArcelorMittal recently announced a net loss of $1 billion in Q4 of 2011. The European market has been the Achilles’ heel for many mills as the macroeconomic factors remain unsolved. ArcelorMittal took measures to stem the tide of losses by closing plants in Leige, Belgium and extending the idling period of its operations in Madrid and Sestao, Spain.
Brazilian automotive production falls 19%
A recent announcement from Anfavea, Brazil’s...
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