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UPDATE 1-Voestalpine special steel sales down 10 pct from last year
September 13, 2012 / 4:11 PM / 5 years ago

UPDATE 1-Voestalpine special steel sales down 10 pct from last year

(Adds details on market segment performance)

By Silvia Antonioli

LONDON, Sept 13 (Reuters) - Austrian steel group Voestalpine has seen its special steel sales volume fall by about 10 percent in the first eight months of this year, compared with the same period last year, Franz Rotter, a member of the company’s board, said on Thursday.

“Special steel sales volumes are slightly lower than last year, approximately 10 percent lower, globally,” Rotter told Reuters.

“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.”

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, Rotter said.

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 percent 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.

Demand from the machinery sector was weaker than in the previous two years, Rotter added. (Reporting by Silvia Antonioli; Editing by David Holmes)

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