Skip to main content

‘Gradual strengthening’ expected in EU steel use

Belgium – Recessionary pressures in the EU are likely to ease from the second quarter of 2012 onwards, according to the latest economic and market assessment from European steel association Eurofer. As a result, the Brussels-based organisation expects the downward trend in apparent steel consumption in Europe to ‘€˜reverse into a gradual strengthening’€™ in the second half of this year – although not enough to prevent an overall demand fall of 2.7% for 2012.

Eurofer’€™s Director-General Gordon Moffat comments: ‘€˜The recent trend in the indicators is consistent with a stabilisation in economic fundamentals after months of weakening; this could pave the way for a cautious recovery later in the year. Owing to solid order backlogs and support from the weaker Euro on export markets, activity across the EU’€™s manufacturing sector has been holding up relatively well.’€™ On balance, activity in steel-using sectors is expected to drop by less than 1% in 2012.

Mr Moffat expresses confidence that, in 2013, ‘€˜a further improvement in the business cycle will result in a modest rebound in real consumption and trigger some restocking’€™. For this reason, the organisation is predicting that apparent steel consumption will rise by 2.5% next year.

 

For more information, visit: www.eurofer.org

Don't hesitate to contact us to share your input and ideas. Subscribe to the magazine or (free) newsletter.

You might find this interesting too

Booming aircraft recycling market reaches new heights
Departing EuRIC frontman Katrakis joins Galloo
Big changes to come for ferrous sector

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe now and get a full year for just €169 (normal rate is €225) Subscribe