“European steel manufacturers must react, warns Moll who suggests three solutions. By 2015, they could proceed with a consolidation, reducing their capacity from 8.3 to 5.7 Mt. This would allow to their production capacity to exceed 80%. Another way is to invest in upstream, which could reduce the price volatility of alloys. Posco, the Korean number one of stainless steel, has its own ferronickel plant supplied by a partnership with the SMSP in New Caledonia”.