Real consumption of steel in the European Union is forecast to decline by one percent in 2013, according to the Economic and Steel Market Outlook 2012-2013/Q4 2012 Report from the Economic Committee of the European Steel Association (EUROFER).
In the second quarter of 2012, real consumption of steel in the EU decreased by over four percent compared to the corresponding period of the previous year, reflecting that activity in the steel using industries is on a clearly downward trend since the beginning of the year. Real steel consumption in the EU is also falling because of steel intensity currently having a negative effect on final steel demand.
EUROFER forecasts for the third and the fourth quarter indicate that the real steel consumption will continue to decrease by almost five percent year on year. For 2012, EU real steel consumption will fall by four percent year on year.
According to EUROFER, from mid-2013 onwards, EU steel consumption will stabilize at the year earlier level.