Real consumption of steel in the European Union is forecast to decline by 0.6 percent in 2012 and increase by two percent in 2013, according to the ‘Economic and Steel Market Outlook 2012-2013/Q1 2012 Report' from the Economic Committee of the European Steel Association (EUROFER).
In the third quarter of 2011, real consumption of steel in the EU increased by almost 6.5 percent compared to the same quarter of the previous year, due to the strong performance of the construction industry during the summer months.
For the full year of 2011, real consumption is estimated to have risen by 6.6 percent, while in the first nine months of 2012 real steel consumption is expected to decline slightly.
According to EUROFER, the outlook for 2012 has deteriorated in recent months due to stagnating activity in the steel using sectors in the EU.