According to the forecast of the European Steel Association (Eurofer), by the end of 2020, the apparent steel consumption in the EU will worsen by 14.6% compared to the previous year, and in 2021 it will grow by 13.1%, SteelOrbis reports. p>
According to Eurofer estimates, in the second quarter of 2020, apparent steel consumption in the European Union fell by 25.5% after falling by 12% in the first quarter. Industrial activity has resumed since the third quarter after the cancellation of measures related to the coronavirus, so the figures for this period will show a recovery.
The contraction of domestic shipments to the EU in the second quarter was 28.6% yoy after falling by 8.2% in January-March. Steel imports, the association said, declined 20% in the first three months of the year and 16.7% YoY in the second quarter. In absolute terms, this is 7.1 million tons, which is equivalent to 24% of the total steel demand in the EU.