Romania's raw steel production, one of the industry drivers,continued to rise significantly this year, returning to almostpre-crisis levels. In August production was just 16% lower than inAugust 2008, back when the effects of the crisis were yet to befelt. Steel production was subsequently significantly hurt, fallingby 65% over the course of a few months, with prices for the mainproducts halving in 2009. In 2008 Romania produced around 4.8tonnes of raw steel, with steel processing plants posting over 3.5billion euros in turnover that same year.
"The rise in steel production is fuelled at international level byexpansionist programmes aimed at driving countries out of thissevere crisis. We are a competitive country as far as exports areconcerned, because the RON has depreciated and labour costs arelow," says Andrei Rădulescu, analyst at Target Capital.
The bulk of steel products are exported to European countries,where demand rebounded as early as last year.
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