Asian steel sector to see only modest recovery in 2013: S&P

摘要

The global economy will see only a cautious recovery in 2013 as the European recession is expected to linger, says Sang-yun Han, director of Standard & Poor's Ratings Services in Hong Kong. Asia's iron and steel sector may escape the full brunt but will still be impacted. Addressing Platts Steel Business Brieng's Steel Markets Asia conference in Hong Kong Monday, Han noted that the Asian economy is vulnerable to a euro zone slowdown and a decline in exports to the EU region could result in lower economic growth in Asia-Pacic. "The economic rebound in Asia will be faster compared with what we expect in Europe and in other countries," Han told Platts SBB on the sidelines of the conference. "However, I doubt whether we will see a clear economic recovery during next year in Asia."