Russian Exports Seen Threatening Europe Steel Industry, FTD Says

Russia joining the World Trade Organization means its steel exports are a threat to Europe’s steel industry, according to Karlheinz Blessing, the chief executive officer of Dillinger Huette Saarstahl AG, the Financial Times Deutschland reported.

Speaking at the Economic Press Club in Dusseldorf, Blessing said Russian steelmakers have ample raw materials and produce at lower cost than German companies, and imports could lead to overcapacity in the market, the newspaper reported.

To contact the reporter on this story: Allison Connolly in Frankfurt at aconnolly4@bloomberg.net.

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net.

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