According to the forecast of the European Steel Association (EUROFER), EU pipe production in 2023 will decrease by 1.9% annually. While the Russia-Ukraine war reduced the consumption of pipe products in the second half of 2022, it disrupted the ongoing projects in the oil and gas sector. Demand from the short-term construction sector may increase gradually. However, pipe demand in the automotive and engineering sectors is expected to remain low.
Eurofer predicts EU pipe production to decline
EUROFER predicted that welded pipes used in the oil and gas field will not recover in the long run.
Comments
No comment yet.