STEEL NEWS

EUROFER: The decline in steel consumption in the second quarter is the largest in the history of the EU

The latest Economic and Steel Market Survey published by the Economic Committee of the European Association of Steel Producers (EUROFER) showed that steel consumption in the EU fell 12% in the first quarter of this year and 25.5% year on year in the second quarter, which is the largest drop in history.

The stagnation of economic and industrial activity caused by the COVID-19 pandemic has led to a constant decline in demand for steel.

Domestic shipments to the EU fell 8.2% in the first quarter and declined 28.6% in the second quarter, resulting in a year-on-year decline for seven straight quarters.