Steel consumption in Europe will fall by at least 40 million tons - Eurometal

Speaking at the international day of steel trading organized by STSG-Eurometal in Milan on April 4, 2013, EUROMETAL CEO Mr. Jurgen Nusser gave a negative forecast for the European market this year.

In particular, he stated that the fall of demand by 9.5% what happened in 2012 will continue. The first signs of recovery can be seen not earlier than the end of 2013, and the growth in consumption itself will occur only in 2014.

Mr. Nusser said that in 2012 the visible consumption of steel in the EU amounted to 142 million tons, while in 2011 -157 million tons and in the 2007 pre -crisis - 201 million tons.

According to the gloomy forecast of the General Director of Eurometal, the fall demand for metal distribution in 2013 will be more than 3.5% and, accordingly, will reach the value of 138 million tons, which is more than 60 million tons less than the 2007 indicator.

Thus, says Nusser, 20 million tons disappeared into the bursting bladder of the 2008 crisis, another 20 million tons were lost as a result of structural changes in demand and 20 million is written off today to the economy recession. This suggests that more than 40 million tons of domestic consumption of steel in Europe are irretrievably lost.