European steel demand falls 12% in Q1; no recovery until year-end - Eurofer

Demand for steel in the European Union dropped by 12% year on year in the first quarter of 2020 and European steel association Eurofer does not expect a recovery until late 2020-early 2021, it said on Wednesday August 5.

Steel demand in the region started on a negative trend in late 2019 this has continued into the first quarter of 2020, exacerbated by pandemic-related restrictions, the association said.
Apparent steel consumption in the EU fell to around 37.6 million tonnes in the first quarter. This followed a drop of 10.8% in the fourth quarter of 2019 as well as a 5.3% reduction for the whole of 2019 to 154 million tonnes, which was the worst slump since 2012.
The Covid-19 outbreak started to hit European steel demand in the second half of March 2020, adding to the continued slump in the EU's manufacturing sector.

Steel imports in the first quarter...

Published

Julia Bolotova

August 05, 2020

16:01 GMT

Dnepr