EUROFER has announced its expectations for European steel consumption!

EUROFER expects a 0.9% decline in the European steel consumer industry in 2023.

It is stated that this expected decrease is due to the economic deterioration, while the expected recovery will be seen in the second half of 2023 with the increase in demand.

It is known that the increase in steel demand this year is related to the construction, mechanical engineering and transportation sectors.

EUROFER expects production capacity in civil engineering to increase by 5.6% in 2022, while it is expected to decrease by 1% in 2023.

Likewise, the expected production capacity increase for mechanical engineering in 2022 is 3.3%, while a decrease of 1.7% is expected in 2023.

Unlike the others, it was announced that there is a 1.7% decrease in the automotive sector in 2022 and an increase of 1.1% in 2023; EUROFER predicts that the white goods sector will decrease by 4.5% in 2022 and increase by 1.8% in 2023.