Following the sharp upturn in galvanized steel prices seen during the early months of this year, German steelmaker ThyssenKrupp announced back in April its intention to re-open its Galmed plant in Valencia, Spain by the end of this year (outbound link in Spanish). The facility, which can produce up to around 400,000 tonnes per year of hot-dipped galvanized steel (HDG) had previously been shuttered in late 2013.
And with Spanish car production up by around 11% during the first half of this year as well, the time seemed right to re-open a facility that previously shipped large quantities of HDG to Spain’s automotive factories.
But there are now thought to be doubts creeping in at ThyssenKrupp, which may opt to delay the re-opening of its Galmed plant until March 2017.
Continue reading ThyssenKrupp hesitates over Galmed re-opening given worsening outlook for Spain’s automotive industry
Recently-released results from Europe’s stainless steelmakers showed a decline in margins for all three of the continent’s major producers – Acerinox, Aperam, and Outokumpu – during the final quarter of 2014.
Continue reading Acerinox leading the way in Europe’s stainless steel industry
The phrase ‘sick man of Europe’ has been used time and again over the past century, and used against almost every individual European state at one point or another to describe a country afflicted by economic adversity or impoverishment.
During much of the 1970s the UK enjoyed the dubious honour, while in the 1990s it was Germany’s turn. With their inability to balance a government budget for more than 30 years, both France and Italy have regularly contended for the title.
Nowadays it is a hotly-disputed mantle and, depending upon which statistics are looked at, a case could be made for any number of countries. In the European steel industry, however, there is one market that stands out as suffering particular adversity. That market is Italy.
Continue reading Italy the sick man of Europe’s steel market