European Steel Association EUROFER in latest Economic and steel market outlook 2022-2023 said that “Despite the continued supply chain issues, the fourth quarter of 2021 has confirmed the positive trend of the tube sector, recording the fourth consecutive increase in output by 6X YoY, after 6.9X in the third quarter. Over the entire 2021, the tube sector rebounded by 10.9X, after the severe drop experienced in 2020 of 12.8X due to the COVID-19 pandemic.”EUROFER said “During 2020 output in the EU steel tube industry was heavily impacted by the industrial stoppages due to the COVID-19 outbreak. Likewise for other steel-using sectors, the rebound seen over the first three quarters of 2021 eased somewhat in the fourth quarter as a result of severe global supply chain issues. The expected disruptions linked to the war in Ukraine have further delayed ongoing projects and impacted the availability of materials. In the longer-term, demand for large welded tubes from the oil and gas sector should not improve substantially, due to the effects of war sanctions and consequent disruptions in oil and gas supply chain.”EUROFER added “The recent recovery of global oil demand, including oil prices, although not yet at levels comparable to other commodities such as natural gas, is not expected to boost the launch or the implementation of new pipelines in the short-term. On the other hand, demand from the construction sector is set to recover a bit more robustly, whereas tube demand from the automotive and engineering sectors is forecast to remain relatively weaker. In addition, import pressure on steel tube markets in the EU will remain high, particularly for the commodity segment.”EUROFER said “After a rebound in 2021, output in the rube sector is expected to grow very moderately in 2022 by 2% and also in 2023”
European Steel Association EUROFER in latest Economic and steel market outlook 2022-2023 said that “Despite the continued supply chain issues, the fourth quarter of 2021 has confirmed the positive trend of the tube sector, recording the fourth consecutive increase in output by 6X YoY, after 6.9X in the third quarter. Over the entire 2021, the tube sector rebounded by 10.9X, after the severe drop experienced in 2020 of 12.8X due to the COVID-19 pandemic.”EUROFER said “During 2020 output in the EU steel tube industry was heavily impacted by the industrial stoppages due to the COVID-19 outbreak. Likewise for other steel-using sectors, the rebound seen over the first three quarters of 2021 eased somewhat in the fourth quarter as a result of severe global supply chain issues. The expected disruptions linked to the war in Ukraine have further delayed ongoing projects and impacted the availability of materials. In the longer-term, demand for large welded tubes from the oil and gas sector should not improve substantially, due to the effects of war sanctions and consequent disruptions in oil and gas supply chain.”EUROFER added “The recent recovery of global oil demand, including oil prices, although not yet at levels comparable to other commodities such as natural gas, is not expected to boost the launch or the implementation of new pipelines in the short-term. On the other hand, demand from the construction sector is set to recover a bit more robustly, whereas tube demand from the automotive and engineering sectors is forecast to remain relatively weaker. In addition, import pressure on steel tube markets in the EU will remain high, particularly for the commodity segment.”EUROFER said “After a rebound in 2021, output in the rube sector is expected to grow very moderately in 2022 by 2% and also in 2023”
