Spanish steel industry shows signs of recovery

The Spanish steel industry is showing signs of recovery, the Spanish steel association Union de Empresas Siderurgicas (Unesid) said on Thursday September 25.

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Crude steel production stood at just under 1.1 million tonnes in August, down 0.4% year-on-year.

However, for the third quarter production is so far up 4% year-on-year, mainly thanks to a 10% increase in July.

Deliveries in the domestic steel market grew by 3.5% year-on-year in July (the most recent figures available).

A favourable euro/dollar exchange rate has spurred exports, which, in July, grew at the same rate as the domestic market, up 3.5% year-on-year.

Considering the most recent figures for orders, Unesid said, the outlook for the fourth quarter of 2014 is forecast as stable or slightly positive.

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