Steel glut to deter capacity investment
Oct 11, 2012 | 12:29 PM
| 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.
"Itll be a while before we start seeing privately funded new capacity investment," Basson said in an interview at the Brussels-based associations 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 dont see a significant change in these conditions over the next 13....
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