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EU steelmakers switch to high value products to survive
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Reportedly, the European steelmakers are switching to sophisticated products when facing the shrinking steel market and aggressive imports.
The major steelmaker such as ArcelorMittal and ThyssenKrupp have cut output and their share prices have more than halved in the past years.
The strategies for some manufacturer are to focus on value added, high quality products for advanced European manufacturing industry and overseas markets.
Mr. Gordon Moffat, the director general of industry body EUROFER said current situation is likely to fasten mass production from China and India, yet they are unable to melt the same quality of steel in Europe.
News Date
6/13/2012 3:16:08 PM
reported by
Kate Hsieh
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