Leading global steel producer ArcelorMittal SA (MT) sees European demand returning to pre-crisis levels in three years, at the earliest.
The usual average capacity utilization for European flat steel is only likely to be reached between 2013 and 2015, Robrecht Himpe, chief of the division said, speaking to journalists late Friday.
In the third quarter, 18 of 25 blast furnaces for flat carbon Europe are in operation. During the summer of last year, at a high point in the crisis, the company was operating only 11 furnaces at times.
Himpe's division provides around 30% of the company's total steel production.
All four of the company's German production sites are profitable, purchasing manager Frank Schulz said, however both managers warned of fierce competition.
"At the moment we are ahead in the automotive sector, but our competitors move fast," Himpe said.
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