IREPAS rebar & wire rod producers: Global demand will grow further next year

In the last session of the SteelOrbis Fall 2013 Conference & 69th IREPAS Meeting held on September 22-24 in Istanbul, Kim Marti Subirana, international commercial director of Celsa Group and chairman of the rebar and wire rod producers' committee, stated that global rebar and wire rod demand is growing, with further growth also expected next year.
 
Commenting that Europe is emerging from its recession and is witnessing a more positive construction outlook, which will drive steel demand higher, Marti added that the economic outlook for the US, Europe and Japan is positive and, since these three economies account for more than 70 percent of world GDP, the general outlook for the global economy is considered to be positive.
 
"European mills are adjusting their capacity carefully in line with demand," stated the Celsa Group official, before going on to say that oversupply is still an overwhelming problem in the world steel industry, with some regions where capacities keep on rising, such as in China.
 
Mr. Marti, who was named as the new chairman of IREPAS during the Istanbul event, said that steel markets in the Gulf region, the GCC and more particularly in the UAE are performing quite well.
 
He also indicated a number of challenges which the steel industry is facing, namely, volatility of prices, overcapacity in the industry, credit restrictions and trade barriers, while also stating that steel trade is becoming more regionalized.