The growth in apparent steel consumption in the EU will slow to only 0.5% in 2019, followed by a 1.2% rise in 2020, European steel association Eurofer said on Thursday January 31.
Europe's apparent steel consumption was forecast to reach 164 million tonnes in 2019 and 166 million tonnes in 2020.These numbers are "less than one-third of the compound annual growth rate of apparent steel consumption over the period 2014-18," according to Eurofer.Development of EU steel demand - in combination with global overcapacity, slowing worldwide demand and increasing protectionism - might become a major threat to the stability of the European market.Although the European Commission (EC) announced its final decision in a safeguard case concerning a...