European Iron and Steel Institute Eurofer's report showed that the decline of the steel demand in the European market trend will continue until 2014.
Institute announced that, due to the strict measures of EU economy and funding difficulties, metal demand in 2013 in European decreased about 1%, export can provide some support to producers.
Institute expected that in 2013 the steel demand may decline nearly 2%, stabilized at 2012 levels in the fourth quarter alone. EU market demand will appear recovery plan in 2014, the actual demand of steel will grow by nearly 2%, up to 2010 levels, and 15% lower than in 2005.
According to the report, the EU steel demand in 2012 declined by 5%, the actual demand in the third quarter fell 5.5%, the actual demand in the fourth quarter fell 5.5% year-on-year. At the same time, the third quarter of EU metal production fell nearly 4%, down 3.5% in the whole of 2012.
