The recovery of the European steel industry is at risk

The European steel industry continues to regain strength but at a moderate pace. In Q3 2021, demand and deliveries increased for the fourth consecutive time in a row. According to the latest report by Eurofer – the European steel association – the positive trend observed since the end of 2020 is expected to endure until at least mid-2022.

However, it’s not all fun and games. “Ongoing supply chain disruptions, skyrocketing energy and carbon prices, as well as persisting inflation, are putting the recovery of the steel sector at risk,” warned Axel Eggert, Director General of Eurofer.

Against this backdrop, steel consumption (+13.8% in 2021) is set to grow much more moderately in 2022 and 2023 (+3.2% and +1.7% respectively).

Eurofer just released the “Economic and steel market outlook 2022-2023, first quarter 2022 report” with data up to, and including, the third quarter of 2021. Click on this link to learn more >>

Photo by worldsteel.