Real steel consumption in the European Union is forecast to increase by almost 2.5 percent in the current year, revised up from the previous growth estimate of two percent, according to the Economic and Steel Market Outlook 2014-2015/Q3 2014 Report from the Economic Committee of the European Steel Association (EUROFER).
In the first quarter of 2014, real consumption of steel in the EU increased by 4.1 percent compared to the corresponding period of the previous year, as better-than-expected activity levels in some steel using sectors such as the automotive industry added some additional momentum. The outlook for the remaining quarters of this year is for a steady but unspectacular increase in real steel consumption.
According to EUROFER, EU real steel consumption is forecast to keep on growing at a rate of around 2.5 percent in 2015 as activity in the steel using sectors continues its moderate recovery. Prospects for flat products are more positive than for long products.
