Steel glut to deter capacity investment

Oct 11, 2012 | 12:29 PM | Chris Prentice

Tags  Edwin Basson, World Steel Association, WorldSteel, chris prentice

NEW DELHI — Steel producers are unlikely to bring new capacity online at least through 2013, with global steel supply more than able to meet U.S. demand, World Steel Association (WorldSteel) director-general Edwin Basson told AMM Thursday.

"It’ll be a while before we start seeing privately funded new capacity investment," Basson said in an interview at the Brussels-based association’s annual conference in New Delhi. "Right now, new capacity development does not really make sense. And even certain existing capacity, which cost ... a lot of money to develop, many are also struggling. I don’t see a significant change in these conditions over the next 13....

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