Reuters reported June 29 that the person in charge of the European Iron and Steel Union (Eurofer) said that due to falling demand, rising costs, the EU steel industry in the next 20 years or need to shut down three-quarters of capacity, will no longer be competitive in the globalforce.
 
Reported that the EU steel production, about three-quarters of the construction of reusable and standardized grade steel has been faced with overcapacity. Potential capacity of the European iron and steel, 210 million tons, the annual demand since 2008 has dropped to 150 million -1.6 million tons.
 
Reported that the head of the organization of the industry, constrained by transportation costs, Brazil and China will not bring much to the European steel industry competitive threat, the biggest competitors will be other neighboring countries such as Russia, Turkey and Ukraine.



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