According to the Economic and Steel Market Outlook 2014-2015/Q3 2014 Report from the Economic Committee of the European Steel Association (EUROFER), EU steel tube output increased by 3.2 percent year on year in the first quarter of the current year. At the national level, production in Germany fell sharply, reflecting the dominant weight of the large welded tubes sector in total production.
EUROFER stated that the second half of 2014 is forecast to see a moderate rebound in output, with sustained activity growth for the first half of 2015; activity in the second half of next year is seen stabilizing around the year-earlier level. A key factor in this trend is the supply of tubes for the first string of the South Stream pipeline project. First tonnages were produced in the second quarter, but output will gain momentum in the remainder of 2014 and into the first half of 2015. This will particularly support output growth in Germany.
According to EURFOER, EU production of steel tubes is expected to rise by 2.7 percent in 2014 and by 3.6 percent in 2015.