Real steel
consumption in the EU increased by one percent year on year in the third quarter of 2014, in line with the moderate rise in activity in the steel using sectors, according to the Economic and Steel Market Outlook 2015-2016/Q1 2015 Report from the Economic Committee of the European Steel Association (EUROFER). Growth in the automotive and engineering industry as well as in the tube sector outweighed the negative trend of production and provided support for steel use.
The outlook for 2015-2016 is for a moderate gradual strengthening of finished steel
consumption. The steel using sectors look set for a mild expansion of activity, in line with the expected modest economic recovery in the EU. The plausibility of this scenario has improved owing to the occurrence of lower oil prices and the weaker euro, according to EUROFER. As a consequence, both exports and domestic demand are seen gaining momentum.
EUROFER forecasts EU real steel
consumption to increase by 1.7 percent year on year in 2015 and by 2.1 percent in 2016.