MMK: Excess facilities are a serious problem for global metallurgical industry

June 20, 2013. Magnitogorsk Iron & Steel Works (MMK) presented its estimate of the long-term metallurgical goods market’s development at the International Metallurgical Summit on Russian Steel and the Global Market: A Look into the Future that took place in Moscow this week.

Up to 2020, the world’s metallurgical industry will mainly be affected by the volatility of the global economy and the booming growth of the developing countries. This is particularly true of Southeast Asia, India, the Middle East, North Africa, and some Latin American countries, MMK Business Development & Efficiency Management Director Evgeny Redin said in his report at the summit. He says Turkey, the Middle East, and North Africa, as well as Russia and the CIS, are the countries that are forecast to consume the greatest amounts of metal goods.

At the same time, the developed countries’ markets are not likely to keep showing increased demand for the rolled steel because of their comparatively slow economic growth and the general drop in the metal good needs of these economies.

Other materials on the topic::