Daily Steel News - 12 Mar 09

Erdemir says no recovery in demand
The board chairman of Erdemir, the biggest steel manufacturer in Turkey said on Tuesday that there is no sign of any resurrection of steel demand and that the collapsed demand wouldn’t recover in a short period time. He also said that it will take about five years to return to the past golden days, in regard to the demand levels in 2007 and 2008. Global steel demand and prices have dropped sharply since the metaphase of 2008, causing production cuts on a global scale. Global crude steel output has dropped to 1.33 billion tons from 1.345 billion tons in 2007.