April 11, 2013
/PRNewswire/ -- More than 150 global steel producers, suppliers and end-users identified oversupply and the sluggish global economy as the greatest challenges facing the European steel industry, according to a recent
, a leading global energy, petrochemical and metals information provider.
International competition and European Union climate change requirements were also noted as key issues facing European steel companies, many of which will attend the events of the
Platts European Steel Summit.
The Summit is
Platts Green Steel Focus Day
, the ninth annual
Platts Steel Markets Europe Conference
Platts Global Metals Awards
program, which highlights exemplary performance by corporations and individuals in categories spanning the entire steel, metals and mining complex.
"The operating environment for steel producers, traders and distributors in
is challenging," said Platts Senior Metals Editor
. "The region's economy has been far slower to recover from the 2008 financial crisis than other areas such as
the United States
, hit equally as hard. We can see that five years on,
is still struggling, which is holding back steel demand."
In addition to key challenges, the survey asked respondents about the outlook for steel demand in 2013 and from which sectors of the economy. Respondents identified the oil and natural gas sector as the industry most likely to see the greatest increase in steel demand this year, while the construction and packaging industries were seen as industries least likely to increase steel consumption in 2013.