EoW January 2010

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EuroWire – January 2010 17
corporatenews
Better outlook
prediction from
worldsteel
The World Steel Association (worldsteel)
is predicting that apparent steel use will
have contracted, worldwide, by –8.6%
to 1,104mmt in 2009 after declining by
–1.4% in 2008. This is an improved figure
over the spring forecast issued in April
2009 when a decrease of –14.1% was
predicted. The improvement is largely
due to exceptionally strong growth in
steel demand in China. With signs of a
recovery slowly becoming apparent,
global steel demand in 2010 is forecast to
grow by 9.2% to 1,206mmt, a recovery to
the level of 2008.
Commenting in October 2009, Daniel
Novegil, chairman of the worldsteel
economics committee, said: “The global
recovery is stronger than we predicted in
April. According to our current forecast,
China will rebound 19% in 2009 and
5% in 2010. Emerging economies will
slow down 17% in 2009, to grow 12% in
2010. Apparent steel use in developed
economies, that contracted 34% in 2009,
will rebound 15% in 2010. Therefore,
worldsteel forecasts moderate growth
in global steel demand in 2010. As
before the financial crisis, the emerging
economies, especially China, will be
the critical factor in driving world steel
demand in the near future.“
World Steel Association – Belgium
Website :
Takeover talks halted
Cable maker Prysmian has called off
talks to take over the Dutch company
Draka Holding NV. In brief, separate
statements on 10 th September 2009,
Prysmian and Draka said they could not
reach agreement on the main terms
and conditions.
When talks were first announced,
Prysmian was worth about €1.77 billion,
dwarfing its nearest rival Nexans of
France, and Draka around €325 million,
according to data from Reuters.
By 10th September, Prysmian was esti-
mated to be worth around €2.5 billion
and Draka about €548 million.
Prysmian – Italy
Website :
Draka Holding – The Netherlands
Website :
Furnace worker at the Edgar Thompson plant, Pennsylvania ▲ ▲
(photograph courtesy of World Steel Association)