<p>European Steel Association EUROFER in its latest Economic and steel market outlook 1121-2022 Fourth quarter 2021 report, which has data up to second quarter 2021, reported that over the second quarter of 2021 output in the electrical domestic appliances sector rose by 40.5%, an exceptionally high rate largely explained by the comparison with the low volumes observed in the second quarter of 2020 due to the pandemic. Nonetheless, this is the only steel using sector recording four consecutive quarters of expansion: production activity already recorded year-on-year growth in the first quarter of 2021 of 16.2%, further to growth in the third and the fourth quarter of 2020. These positive developments reflected a bigger than expected recovery in output after the removal of lockdown measures and widespread remote working across the EU, which has likely boosted demand for home appliances and other related goods. Output in domestic appliances is set to recover strongly 15% in 2021 and much more moderately 1.4% in 2022, after three consecutive annual drops of minus 2.8% in 2020.</p><p>This is based on the assumption that home working will remain widespread in the EU, albeit not as much as it has been since March 2020. In addition, developments linked to the so-called “Internet of Things” (i.e. smart applications that enable to connect and set home appliances and devices and systems over the Internet) should also benefit the sector. However, growth is expected to slow down considerably over the course of 2022, particularly over the first two quarters, as a result of the huge disruptions along the global supply chain (lack of components and materials, very high energy prices and shipping costs, etc.). They are not expected to ease significantly before the first quarter of 2022 at least. The supply-side of the EU steel market analyses factors affecting domestic and foreign supply, as well as stock effects in the distribution chain and at the end-user level.</p><p>On a yearly basis, output fell by 2.8% in 2020 for the second consecutive time after 2019 b minus 0.8%.</p>
<p>European Steel Association EUROFER in its latest Economic and steel market outlook 1121-2022 Fourth quarter 2021 report, which has data up to second quarter 2021, reported that over the second quarter of 2021 output in the electrical domestic appliances sector rose by 40.5%, an exceptionally high rate largely explained by the comparison with the low volumes observed in the second quarter of 2020 due to the pandemic. Nonetheless, this is the only steel using sector recording four consecutive quarters of expansion: production activity already recorded year-on-year growth in the first quarter of 2021 of 16.2%, further to growth in the third and the fourth quarter of 2020. These positive developments reflected a bigger than expected recovery in output after the removal of lockdown measures and widespread remote working across the EU, which has likely boosted demand for home appliances and other related goods. Output in domestic appliances is set to recover strongly 15% in 2021 and much more moderately 1.4% in 2022, after three consecutive annual drops of minus 2.8% in 2020.</p><p>This is based on the assumption that home working will remain widespread in the EU, albeit not as much as it has been since March 2020. In addition, developments linked to the so-called “Internet of Things” (i.e. smart applications that enable to connect and set home appliances and devices and systems over the Internet) should also benefit the sector. However, growth is expected to slow down considerably over the course of 2022, particularly over the first two quarters, as a result of the huge disruptions along the global supply chain (lack of components and materials, very high energy prices and shipping costs, etc.). They are not expected to ease significantly before the first quarter of 2022 at least. The supply-side of the EU steel market analyses factors affecting domestic and foreign supply, as well as stock effects in the distribution chain and at the end-user level.</p><p>On a yearly basis, output fell by 2.8% in 2020 for the second consecutive time after 2019 b minus 0.8%.</p>
