In conclusion, a new global steel industry is emerging, though still it is in its emergent stage. Most of the players and the technology that will be critical in the next decade are already on the field of play. However, there will be plenty of changes within these bounds.
The industry currently stands at a very difficult point in its development. The crisis in Europe, slowdown in China, and less than robust growth in India are all working to create an imbalance in supply and demand that that has taken the steel industry by surprise. Flat rolled prices in North America have fallen from a peak of $740 per ton to about $630 and could bottom out as low as $550.
The European financial crisis has hit steel hard. It is facing ...
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