EU steel consumption in the first quarter decreased by 12% year on year

On August 5, the European Iron and Steel Institute (Eurofer) stated that due to the weakening of the demand for steel due to the new crown pneumonia epidemic, in the first quarter of this year, EU steel consumption fell by 12% year-on-year.

Due to the implementation of anti epidemic blockade measures in March this year, the impact on steel demand in the first quarter is relatively small, and it is expected that the demand in the second quarter will be significantly affected.

In June, the European Iron and Steel Association said steel demand in the European Union is expected to drop by about 50% since March this year, as factories in industries such as automobiles close down one after another.

"The epidemic has dealt a heavy blow to steel demand in Europe, causing serious damage to the entire industry and its value chain." Axel Eggert, general secretary of the European Steel Association, said.

According to the data, in the first quarter of this year, the apparent steel consumption in the EU region (including the UK which withdrew from the EU at the end of January) fell by 12% to 37.6 million tons year on year, slightly higher than the 10.8% decline in the fourth quarter of 2019.