European steel demand slumps by 25% in Q2, rebound in early 2021 - Eurofer

By IM Staff
Published: Thursday, 29 October 2020

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.

By Julia Bolotova

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. 

Apparent steel consumption in the EU fell to around 29.6 million tonnes in...

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