European Steel Association EUROFER announced that EU apparent steel consumption in the third quarter of 2021 increased for the fourth consecutive time in a row by 14.3%, albeit easing with 36 million tonnes compared to 40 million tonnes in the second quarter & recovery is expected to continue but at a moderate rate and subject to considerable uncertainty, including the ongoing energy crisis, until at least mid-2022 with steel consumption, after a rebound of 13.8% in 2021, is set to grow much more moderately in 2022 & 2023 by 3.2% & 1.7% respectively.. Director General EUROFER Mr Axel Eggert said “The positive trend in steel-using industries and in steel demand observed since the end of 2020 continues, but the outlook is becoming gloomier. Ongoing supply chain disruptions, skyrocketing energy and carbon prices as well as persisting inflation are putting the recovery of the steel sector at risk. Combined with the current EU climate and energy policies, these are the ingredients of a dangerous cocktail that may drive Europe into a structural crisis and industry out of Europe.”In line with steel demand, over the third quarter of 2021, also domestic deliveries in the EU continued their positive trend but at slower pace of 6.6% than the exceptional growth in volumes recorded in the second quarter of 40%. This follows a two-year decline of 9.6% in 2020 & 4.2% in 2019.By contrast, EU steel imports continued their dramatic surge, recording 47.7% in the third quarter after 45% in the second. Although reflecting the comparison with the exceptionally low figures of minus 17.1% of 2020 due to the pandemic, import penetration proves to be considerably high.The major pressures on the global supply chain experienced since July 2021, and especially those affecting the automotive sector, have impacted steel-using sectors’ output over the third quarter: growth marked a modest 3.2%. This follows a strong rebound that peaked in the second quarter of 2021 of 29.2% and that allowed to recover the losses from the pandemic.
European Steel Association EUROFER announced that EU apparent steel consumption in the third quarter of 2021 increased for the fourth consecutive time in a row by 14.3%, albeit easing with 36 million tonnes compared to 40 million tonnes in the second quarter & recovery is expected to continue but at a moderate rate and subject to considerable uncertainty, including the ongoing energy crisis, until at least mid-2022 with steel consumption, after a rebound of 13.8% in 2021, is set to grow much more moderately in 2022 & 2023 by 3.2% & 1.7% respectively.. Director General EUROFER Mr Axel Eggert said “The positive trend in steel-using industries and in steel demand observed since the end of 2020 continues, but the outlook is becoming gloomier. Ongoing supply chain disruptions, skyrocketing energy and carbon prices as well as persisting inflation are putting the recovery of the steel sector at risk. Combined with the current EU climate and energy policies, these are the ingredients of a dangerous cocktail that may drive Europe into a structural crisis and industry out of Europe.”In line with steel demand, over the third quarter of 2021, also domestic deliveries in the EU continued their positive trend but at slower pace of 6.6% than the exceptional growth in volumes recorded in the second quarter of 40%. This follows a two-year decline of 9.6% in 2020 & 4.2% in 2019.By contrast, EU steel imports continued their dramatic surge, recording 47.7% in the third quarter after 45% in the second. Although reflecting the comparison with the exceptionally low figures of minus 17.1% of 2020 due to the pandemic, import penetration proves to be considerably high.The major pressures on the global supply chain experienced since July 2021, and especially those affecting the automotive sector, have impacted steel-using sectors’ output over the third quarter: growth marked a modest 3.2%. This follows a strong rebound that peaked in the second quarter of 2021 of 29.2% and that allowed to recover the losses from the pandemic.
