Industry News

Cloudy outlook for EU steel market

Views : 118
Update time : 2023-11-08 15:41:12

The slump in apparent steel consumption is expected to further deepen (-5.3%) this year, while the anticipated rebound (+7.6%) in 2024 cannot be taken for granted, Eurofer says, in the face of general uncertainy. Imports, despite very weak demand, continue to maintain their 28% market share.

‘The perspectives for the European steel sector get gloomier every quarter amidst disruptive wars, global tensions, an unresolved energy crisis, high inflation, tightening economic conditions and historically high import shares that are strangling manufacturing,’ says Eurofer director general Axel Eggert.

‘This situation negatively impacts steel demand. It is essential that EU policymakers steer a course which maintains a sustainable industry in Europe and responds to the call of the clean tech value chain – of which steel is a fundamental part – for an EU Clean Industrial Deal and urgent actions to keep Europe in the world’s clean technology race.

Related News
Read More >>
Turkey reports decrease in Jan-Apr wire rod exports & value Turkey reports decrease in Jan-Apr wire rod exports & value
Jun .06.2025
Turkey reports decrease in Jan-Apr wire rod exports & value
EGA expands solar aluminum supply to Hyundai Mobis EGA expands solar aluminum supply to Hyundai Mobis
Jun .06.2025
EGA expands solar aluminum supply to Hyundai Mobis
LME nickel rebounds above $15,500 level on market factors LME nickel rebounds above $15,500 level on market factors
Jun .06.2025
LME nickel rebounds above $15,500 level on market factors
Walsin Lihwa’s May revenue drops m-o-m, rises Walsin Lihwa’s May revenue drops m-o-m, rises
Jun .06.2025
Walsin Lihwa’s May revenue drops m-o-m, rises