Last year, crude steel production in the European Union amounted to 168 million tonnes, which is a reduction of 5% compared to 2011. The downward trend in real steel consumption largely stemmed from weakening activity in the steel using industries in the EU.
EU apparent steel consumption decreased by almost 10% in 2012. Particularly in the second half of 2012, the decline was compounded by inventory corrections in the steel distribution chain. As a result, bookings remained weak after the summer period. “With end-user fundamentals forecast to remain depressed until late 2013, the EU market will continue to lack positive demand-side impulses for the greater part of the year,” states EUROFER Director General Gordon Moffat.
Total third country imports into the EU decreased by 27% to 21 million tonnes in 2012. Whereas in 2011 import pressure had been very high, the combination of sluggish demand and a weakened Euro resulted in a marked reduction in imports in 2012. Imports from Ukraine, Russia and China continued to dominate total imports arriving in the EU, accounting for 66 per cent of total import supply.
In 2013 exports are expected to stagnate at the 2012 level. The domestic market will remain sluggish. However, international competition and the stronger Euro will limit any further growth potential on the key export markets. For more information, contact Mr Gordon Moffat, Director General +32 2 738 79 26 or via email g.moffat@eurofer.be.
