EU steel market inching toward recovery in 2014-15, Eurofer says

The European steel market is expected to move closer to a recovery in 2014 and 2015, regional steel association Eurofer said on Thursday January 23.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

Preliminary data on total production in the EU’s steel-using sectors for the final quarter of 2013 showed the first positive growth in activity since the fourth quarter of 2011, the group said.

Key end-users sectors such as the automotive industry showed positive signals, while the construction downturn could also be bottoming out in some countries.

The association expectsed steel-consuming sectors to see activity gradually gain traction in 2014-15.

“The eurozone crisis is believed to be largely under control,” Eurofer director-general Gordon Moffat said.

Although the economies of France and Italy continue to be fragile, the association expects the positive outlook for the USA and the continued recovery in Japan to improve conditions in other regions.

The second half of last year more or less reversed the sharp year-on-year drop in European steel demand in the first 6 months, owing to low inventory levels and better-than-expected steel consumption.

“We expect EU apparent consumption to rise by about 3% in 2014, owing to higher levels of activity in the steel using sectors,” Moffat said.

“The EU steel market is seen gaining further strength in 2015,” he added.

On Wednesday, Eurofer joined other steel and manufacturing bodies in warning the European Commission that threats to the region’s industry remain.

What to read next
Any bolstering effect on US ferrous scrap exports from the up-month in February’s domestic trade will be tempered in the immediate aftermath of two earthquakes in Turkey — the country’s largest importing region — on Monday, February 6
Steel trading and production have come to a halt in the eastern Turkish region of Iskenderun following a devastating earthquake that hit the region on Monday February 6 and put mills in the area under force majeure, sources told Fastmarkets on Tuesday
A 120-day closure of four Illinois dams scheduled for 2023 will disrupt barge shipments and have potentially both negative and positive impacts on scrap and finished steel products from Canada to Texas
Market participants are cautiously optimistic about a rebound in iron ore concentrate premiums, with steelmakers around the world set to ramp-up production in line with an anticipated increase in demand for steel products, Fastmarkets understands
General Motors (GM) is investing $650 million to develop the Thacker Pass mine in Nevada, the largest known source of lithium in the US and the third largest in the world
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.