Reuters reported that Austrian steel group voestalpine has seen its special steel sales volume fall by about 10% in the first eight months of 2012 as compared with the same period last year.
Mr Franz Rotter, a member of the company's board, said that "Special steel sales volumes are slightly lower than last year, approximately 10% lower, globally. I believe that we will see lower demand for the next few months, until the beginning of next year, definitely. I believe there will be an upswing in the beginning of the spring."

Mr Rotter said that the worst performing segment in terms of demand was the power and energy sector, in Europe but also in the United States, mainly due to reduced investment in new projects.

Sales to the automotive sector, the biggest demand segment for the Austrian company's special steel division, were slightly weaker in Europe, but stable in Asia and United States.

Demand from the oil and gas markets, which represent about 10% of the special steel division's turnover, was similar to last year at what he said was a pretty good level, while demand from the aviation sector had increased.

Mr Rotter added that demand from the machinery sector was weaker than in the previous two years.

Source - Reuters

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