ArcelorMittal chief sees global steels shortage as demand increases
June 26, 08 by TheFleetIf you're new here, you may want to subscribe to our RSS feed. Thanks for visiting!
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Stewart Bailey and Dale Crofts | Source: LiveMint
Chief executive of ArcelorMittal Lakshmi Mittal said the world may be facing its first steel shortage in decades because of accelerating demand and a lack of investment when the metal was trading at lower prices.
“There is short supply; all steel companies are running at full capacity,” Mittal said in an interview in New York. “We’re facing for the first time in decades a potential shortage of steel.”
The “volatile years of boom and bust” in steel prices have been relegated to the past, Mittal said. Users of steel will have to “adjust to the new reality and the new pricing environment.”
