OECD SAYS STEEL INDUSTRY MUST INVEST IN TECHNOLOGY TO FIND SUSTAINABLE RECOVERY
December 1st, 2010
BY CAROL SOLOMON, KEITH NUTHALL
THE CHAIRMAN of the Organisation for Economic Co-operation & Development's (OECD) steel committee has warned that the steel industry has yet to secure a sustainable recovery from the recession. Risaburo Nezu told a meeting of the committee in Paris that steel demand globally reached an annual rate of 1.4 billion tonnes during the third quarter of 2010, only 6% higher than pre-recessional 2008. That was despite an increase in Asian demand of 17.6%.
"Production, demand and trade fell drastically in 2008/2009 with lower ...
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