According to the forecast of the association of European metallurgists Eurofer, the apparent demand for steel in the EU and the UK by the end of 2021 will reach 152 million tons, which is 13.3% more YoY, but 2 million tons less than the result of 2019 years, according to Reuters.
In 2022, the figures are expected to grow by another 3.4%.
At the end of the third quarter of 2020, the association estimates the volume of steel consumption in the EU at 32.8 million tons, which is 11.6% less than in the previous period. Imports of products from foreign metallurgical enterprises during this period decreased by 25.4%. In the fourth quarter, performance is expected to improve. At the end of 2020, the drop in apparent consumption was, according to preliminary estimates by Eurofer, 13%.
