Demand for steel in the European Union dropped by 25% year on year in the second quarter of 2020 and while European steel association Eurofer expects the pace of decline to slow in the fourth quarter, it believes demand will not recover until late 2020-early 2021.
Unprecedented steel demand deterioration in the region started in late 2019 and has continued into the first quarter of 2020, with Covid-19 related restrictions aggravating the situation, Eurofer said on Wednesday October 28.Steel imports in the second quarter continued...