European Steel Producers reported record profits

Executive Summary…. European companies showed record profits in It happened because of strong positive global economic market trend in the year2007.

Issues…. European Steel Producers achieved a record profit because: US lagged behind because of imports and crisis in US real estate market. Chinese steel companies which are producing flat quality products such as Angang, Tangshan and Shougang had been able to maintain their profits.

Continued…. Nippon Steel Corporation, a Japanese company, is the world’s second largest steel producer company. Its pre-tax profits have been increased because of the demand of the Japanese car in international market but the profits of other companies reduced drastically.

Conclusion…. European companies showed record profits and this is concluded by analyzing the 60 leading company’s quarterly and interim financial reports. Strong economic position of European companies helped them in strengthening their position in global steel market