Tuesday, August 13, 2013

EU steel demand growth - not till 2014

According to Eurofer, a very weak first quarter in 2013 [caused by depressed demand, and exacerbated by a harsh winter and weakening exports] means that 2013 steel demand is likely to fall when compared to 2012 demand. Therefore, steel demand growth in Europe should not be expected until 2014.

Eurofer estimate the 2013 decline in steel demand at ~4.5 per cent (see http://eurofer.org/index.php/eng/News-Media/Press-Releases/Economic-Steel-market-Outlook-2013-20143). This is after consumption fell ~10 percent in 2012. The 2014 demand growth is expected to be just 2 per cent or so.

For further reading, see http://finance.yahoo.com/news/eu-steel-demand-only-return-112000883.html





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