EU apparent steel consumption fell 0.8 percent in the second quarter of the current year, following robust growth in the first quarter, according to the Economic and Steel Market Outlook 2017-2018/Q4 2017 Report from the Economic Committee of the European Steel Association (EUROFER).
First estimates for apparent steel consumption in the third quarter signal a return of EU steel buyers to the market. In addition, the forecast for the fourth quarter apparent steel consumption is for continued year-on-year growth, but with the seasonal destocking dampening growth over this quarter. All in all, EU apparent steel consumption is foreseen to increase by 2.3 percent over the whole year of 2017.
According to EUROFER, in 2018, steel demand is expected to continue its gradual recovery which started in 2014, driven by the expected rise in real steel consumption in the EU market and very modest support from the stock cycle. As seen in preceding years, it remains to be seen to what extent EU steel suppliers will be able to benefit from growing EU demand. Import distortions remain the main risk for the stability of the EU steel market.