Few weeks after witnessing record profits, steel producers are facing the heat of global economic melt down with cancellation of orders, cuts in production, and layoffs. The present credit crisis and global economic slowdown have affected customers in top three key markets for steel industry — construction, automobiles and industrial equipment.

Few weeks after witnessing record profits, steel producers are facing the heat of global economic melt down with cancellation of orders, cuts in production, and layoffs. The present credit crisis and global economic slowdown have affected customers in top three key markets for steel industry — construction, automobiles and industrial equipment.