Situation in 2003

Year 2003 as a whole was positive for development of the steel industry again. Rolled material and tube production growth was bigger in the 1st half of year, in the 4th quarter the decline in some months was noticed. Definite growth as a whole was the result.

That helped to further positively develop the economy. Each of the three main producers improved their economic results very well. A huge improvement was recorded at Ispat Nova hut under the new owner LNM Holdings. It seems the recovery phase has been completed there in only one year, so future years can be projected towards stabilisation and technical and technology improvement. Price development was positive too. Long product prices increased by 6,1%, flat products by 9,7%, but tube prices felt by 5,8%.

Altogether it means an overall increase by 5,4%. Imports slightly improved their share on steel consumption. This was caused by growth of import in the second half of year, when simultaneously exports grew likewise.