Demand for steel in the European Union will grow in 2013 - Meps

In 2012, the visible consumption of metal rolling in the eurozone fell by more than 13 million tons (8.7%), experts of the analytical agency MEPS (International) LTD. The debt crisis limited the working capital of the enterprises. Throughout the last year, the prices for metal rolling in 27 countries of the European Union were constantly falling.

European metal traders sold commodity residues and were afraid to buy new ones so as not to burn out on the next decrease in steel prices. Growing unemployment and low level of consumption in households contributed to difficult market conditions.

Meps expects that in 2012 the production of steel in the eurozone will be 170 million tons.

However, in 2013, MPS analysts expect a modest increase in the demand for metal rolling in Europe. Rising prices is also expected.

It is not worth counting on economic growth in the short term, they say in Meps, if it begins, it will be “sluggish” enough. Public finances will be strictly saved, private banks at the same time will try to strengthen their balance sheets. Metal -combat infrastructure projects in the EU are not provided for in the near future.

Slow, but stable growth will begin this year and will continue until 2016. In 2014, MEPS experts see steel production in Europe at the level of 188 - 190 million tons. Cast iron production will follow the same direction.