EU tube output growth to pick up in Q4 2012

Friday, 10 February 2012 17:50:52 (GMT+2)

According to the Economic and Steel Market Outlook 2012-2013/Q1 2012 Report from the Economic Committee of the European Steel Association (EUROFER), the tube output in the European Union increased by 8.6 percent in the third quarter.

The growth rate in EU tube output was above the previous estimates reflecting a slowdown in tube production growth over the summer. Fourth quarter production is estimated to have fallen by almost four percent year on year. For the full year of 2011, EU tube output is expected to have grown by almost 10 percent year on year.

The outlook for 2012 shows that the mild weakening will continue in EU tube output. EUROFER expects that key client sectors of the tube industry are expected to be on a downward trend in the first half of the year, followed by a slight improvement from mid-2012 onwards.

According to EUROFER, tube production will fall by six percent year on year in the first quarter, and by approximately three percent year on year in the second and third quarters. Recovery in market conditions is expected to trigger a rebound in tube output in the fourth quarter of 2012. EUROFER forecasts a mild year-on-year growth in the EU's total steel tube output at 2.5 percent for 2013.

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