IREPAS Chairman: Credit restrictions limit pace of steel trade

The SteelOrbis 2014 Spring Conference & 70th IREPAS Meeting has started in Barcelona today, March 31, with the participation of over 250 executives, including 101 representatives from 47 steel producer companies and 44 representatives from 32 raw material suppliers.
 
In his welcome address, IREPAS chairman Kim Marti from Spanish steel producer Celsa stated that the long steel industry is still facing the problem of overcapacity, especially in China, though the same issue is now also being observed in Turkey. Thus, production cuts are still a significant option.
 
Regarding steel trade cases, which are increasingly shaping the flow of steel trade, Mr. Marti said the continuation of free trade is unquestionable, though adding that steel producers may need to take measures against unfair trade practices.
 
The Celsa executive stated that credit restrictions are limiting the pace of trade in the steel industry, as the steel business is seen risky by finance providers.