Reuters reported that Austrian steelmaker voestalpine plans to run its plants at full capacity over the summer despite declining demand in some sectors and falling prices.

Mr Wolfgang Eder CEO of voestalpine told shareholders that "We're not thinking about reduced working hours. We will work at full strength over the summer. Even in the steel division, order intake is enough that we can maintain full capacity."

Mr Eder said that the greatest uncertainty came not from the euro zone's debt crisis but from China's declining growth outlook. He added that "Every negative report that comes from China immediately weighs on global markets."

Many steel producers have idled capacity, as demand for steel used in European factories and equipment has fallen as a result of the euro zone crisis, against a backdrop of already dwindling demand since the global economic crisis of 2008.

Source - Reuters

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