Consolidation Needed in EU Steel Market, Says Kerkhoff

Thyssenkrupp AG, Germany’s largest steelmaker, cut its profit forecast as the industry grapples with a glut brought on by record Chinese exports. Full-year earnings will be a “minimum” 1.4 billion euros ($1.6 billion), the Essen-based company said Tuesday in a statement. Speaking from Germany, Chief Finance Officer Guido Kerkhoff joined Bloomberg's Manus Cranny in Dubai to go through the numbers on "Countdown."

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