Bloomberg cited Mr Karlheinz Blessing CEO of Dillinger Huette Saarstahl AG as saying that Russia joining the World Trade Organization means its steel exports are a threat to Europe’s steel industry.

Speaking at the Economic Press Club in Dusseldorf, Mr Blessing said Russian steelmakers have ample raw materials and produce at lower cost than German companies, and imports could lead to overcapacity in the market.

Source - Bloomberg

(www.steelguru.com)