VIENNA, June 24 (Reuters) - Britain's decision to leave the European Union will not immediately have a strong effect on the European steel industry, the chairman of the World Steel Association said on Friday.
"There is no massive direct impact to be expected for the European steel industry in the short term," Wolfgang Eder, who heads the trade group and is also chief executive of Austria's Voestalpine VOES.VI , said in a statement.
However, changes in exchange rates could shift the international balance of power within the hard-pressed sector, he added.
"A significant depreciation of the euro would be a clear negative scenario, as this would make Europe an even more attractive region for exports from China and other regions," Eder said.