Steel demand in the EU to remain negative in 2023

ABSTRACT
The apparent steel consumption in the European Union (EU) is projected to decrease by 1% in 2023, though the worst seems to be over after the fourth quarter of 2022, Mysteel Global learned from the latest report of economic and steel outlook for 2023-24 by the European steel association EUROFER.

Although steel demand in the EU market is expected to rebound by 5.4% in 2024, high uncertainty continues to cast a shadow on the outlook for this year, which remains bleak, EUROFER said in the report. "The steel industry was severely knocked at the end of 2022 and is striving