Brussels based the European Steel Association EUROFER in latest Economic and steel market outlook 2022-2023 has 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 5% YoY, after 3.9% in the preceding quarter. Over the entire year 2021, the tube sector rebounded by 10.6%, after the severe drop experienced in 2020 due to the pandemic.The recent recovery of global oil demand (including oil prices, although struggling to rise to levels comparable to other commodities, e.g. 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 of 10.9%, output in the tube sector is expected to grow moderately in 2022 by 3% and also in 2023 by 2.7%.”
Brussels based the European Steel Association EUROFER in latest Economic and steel market outlook 2022-2023 has 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 5% YoY, after 3.9% in the preceding quarter. Over the entire year 2021, the tube sector rebounded by 10.6%, after the severe drop experienced in 2020 due to the pandemic.The recent recovery of global oil demand (including oil prices, although struggling to rise to levels comparable to other commodities, e.g. 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 of 10.9%, output in the tube sector is expected to grow moderately in 2022 by 3% and also in 2023 by 2.7%.”
