Ukraine war may bring mild recession in EU steel, but recovery in 2023, Eurofer says

The uncertainties created by the war in Ukraine, the energy crisis, the shortage of raw materials and the continuing global supply chain disruptions may result in a contraction of steel consumption in Europe by 1.9% year-on-year in 2022, according to regional steel association Eurofer.

But this would be followed by a 5.1% recovery in 2023, the association said on Thursday May 5 in its economic outlook for the rest of 2022.

Due to...

Published

Elina Virchenko

May 06, 2022

13:40 GMT

Dubai