In the committee meetings held on October 20 during the SteelOrbis Fall 08 Conference & 59th IREPAS Meeting, the participating market players expressed their viewpoints on the current state of the global markets.
Whereas up to this year's SteelOrbis and Irepas Conference, only committees for Raw Materials, Producers and Traders used to convene, this year for the first time has seen the innovation of three new sub-committees, for Rebar, Billet and Wire Rod.
After the committee meetings, Colakoglu Metalurji A.S. Managing Director and IREPAS Chairman Ugur Dalbeler delivered the opening speech for SteelOrbis Fall 08 Conference & 59th IREPAS Meeting. In his speech, Mr. Dalbeler remarked that the downturn in the steel market had been continuing since July, adding that, despite all negativity, optimism should be sustained. According to Mr. Dalbeler, consumption will continue as no other substitute for steel has yet been discovered and as the steel companies are strong enough to handle the current period.
While observing that in some countries rebar consumption has been falling, Ugur Dalbeler expressed the view that the bottom point of this trend was near. According to Mr. Dalbeler, everyone should maintain their current position until the storm is over, and he stressed that all producers are aware of the situation in which they find themselves. Stating that producers are ready to take necessary steps, Mr. Dalbeler also said that people should think positively and remember that the steel sector is still powerful.
Ugur Dalbeler completed his speech by saying that in the coming spring he expects to welcome guests in a more positive atmosphere.