Automotive Industry Increases Steel Consumption

Last year saw the largest increase in steel use in the automotive industry among the consuming segments of production. 2017 will be similar, although growth rates will slow.

Consumption in the auto industry rose 5.5 percent last year, according to the Eurofer SWIP Index, which measures economic activity in steel-consuming industries, while the average for all industries was 1.8 percent.

In general, the 2017 SWIP index for the automotive industry, which is reduced to the production of cars and spare parts and accessories, will be 3.2 percent. In 2018, however, it should drop to 1 percent.