The global crisis implications on steel production. Romania’s case

Abstract

Iron and steel industry is an important sector of the real Romanian economy, knowing the fact that, generally, the metallurgy is a very important indicator of internal consumption. The most important companies in this sector are part of international groups (Arcelor Mittal, Mechel, TMK and Tenaris), which ensure an acceptable security standard regarding raw materials acquisitions, sales markets and treasury. However, the global crisis (2008-2010) has shown the Romanian metallurgy’s vulnerability. Steel production has been reduced by almost a half, the global turnover of the Romanian iron and steel sector has dropped by more than 40% and the personnel was also reduced by a fifth.

Keywords

• metallurgical sector
• economic recession
• steel production
• technological investment