According to Eurofer, the European Steel Association, 2017 was a strongly expansionary year for EU steel users, and the forecasts for 2018 and 2019 are positive.
Steel demand in the EU recorded a growth of 1.9% in 2017 compared to the previous year. This is mainly due to a significant increase in investments in the manufacturing and construction sectors.
As for 2018, Eurofer also expects a y-o-y growth of 1.9%, with a projection of 1.4% for 2019.
Speaking of production volumes, the data about Europe released by the World Steel Association report an increase in crude steel production of 4.1% compared to 2016.
CRU Consulting analysts confirm a positive outlook for the year that has just begun. The internal demand is supported by a number of factors, including the trade restrictions placed by the EU against certain low-priced external supply sources and macroeconomic indicators that will generally be positive.
CRU expects another strong year for European steel prices and especially margins.
Photo credits: by Schmimi1848 - CC BY-SA 3.0
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