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European steel consumption to remain subdued
It will take three to five years for European steel consumption to reach the levels of 2007, chief executive of Anglo-Dutch steelmaker Corus, Kirby Adams, said in the results conference call of Indian parent company Tata Steel.
“The opinion on the timing of the recovery [in Europe] has changed,” Adams said in the call monitored by Steel Business Briefing yesterday (25 June). He suggested the downturn has been much sharper and more protracted than people initially expected.
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