Challenges Faced by the Steel Industry

3374 Words Mar 10th, 2010 14 Pages
Challenges faced by the steel industry

Introduction 3
Challenges faced by the steel industry 3
Conclusion 13
Work cited

During the 1950s,the European steel market, steel production and import unrelentingly augmented. This created surplus provisions on the promotion of the Six. Due to this, there was deterioration of the market together with its selling value. This drop continued as a result of antagonism from inexpensive introductions from eastern nations. Therefore, the European steel industry was actually positioned at a drawback for the reason that its cost prices were higher than those of its contestants (Steel Industry and the Environment p.1). Consequently, there was a proposal from the High Authority that there should
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This has led to the declaration that there will be reduction in the manufacture of even formations by a number of tons in the first half of that year due to the low stipulation in the promotion of the European Union. Although, this decrease unreservedly aspires at offering support to the advertising costs that the company has already publicized. This has clinched an augmentation of Euro 15/ton effectual early in the second quarter. The second largest steel producer, “Mittal Steel”, provided some analysis that opted to taking comparable applications to that of Arcelor (“Analysis of economic indicators of the EU metals industry p.1) This offered assistance in the reduction of the creations within the perception of the requirement of upholding the provisions and stipulation stability of sustaining the values at the cost of measure. Therefore, that is what the steel industries have been determined to attain in 2005, particularly after the augmentations that took place in the prices of the raw substance. Particularly, the iron ore industry, which had indentures concluded in the year 2005 with an augment of up to 71.5% over the stage of preceding year. There may be an illustration to a new path for this steel manufacturing during
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