European steel demand growth to slow on trade uncertainties, Brexit - Worldsteel

European demand for finished steel products is forecast to grow by 0.3% year on year in 2019 to 170.2 million tonnes amid a 'deteriorating trade environment and uncertainty over Brexit', according to the World steel association’s (Worldsteel) latest short-range outlook.

“We expect slower growth in demand for steel in the major EU economies (especially in those more export dependent) in 2019,” Worldsteel said. UK and European steel market participants renewed calls for the European Union and the United Kingdom to reach an agreement and avoid continued market uncertainty after the UK was granted a six-month extension to delay Brexit until Thursday October 31. In the past few months, European long steel exporters have pointed to the recent political uncertainty in Algeria,...

Published

Viral Shah

April 18, 2019

10:45 GMT

London