Photo: Colourbox
Recovery in the Spanish steel industry will largely depend on growth in exports of manufactured goods. Germany has been the chief target for Spanish steel exports, but the decline in the performance of the German manufacturing sector from mid-2011 is having a deleterious effect on export performance.
ArcelorMittal was evaluating the possible reopening of one galvanised production line in its plant in Aviles in order to provide steel to local automotive industry. This indicated growing optimism that the exportoriented Spanish automotive industry was set for growth in 2013.
Acerinox is also predicting a recovery in the global stainless steel market in 2013, bolstered by the automotive industry. However, the Spanish flat steel market is unlikely to recover its full momentum over the medium-term with packaging and consumer durables hit by high unemployment. At the same time, the long steel market has been hit by the collapse in residential construction.
