European credit conditions still not improved: KME exec
Mar 07, 2013 | 11:27 AM
| Mark Burton
Tags
Riccardo Garrè,
KME Group,
copper,
Metal Bulletin International Copper Conference,
Aurubis,
Codelco,
Freeport-McMoRan,
credit conditions
Mark Burton
LONDON — Italian copper fabricator KME Group SpA and its customers have not seen an improvement in credit conditions in the European market over the past year, according to chief executive officer Riccardo Garrè.
"If you take Spain, for example, the risk premium today is actually higher than it was a year ago," Garrè said on the sidelines of the 26th International Copper Conference in Madrid sponsored by AMM sister publication Metal Bulletin. "Companies in the building industry don’t have cash and banks won’t provide credit, so they still don’t have the oxygen they need."....
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