All the negative factors that took place in the first half of last year continue to affect the European steel market.
Steel consumption expected for 2022 is forecast to be -3.5%, while it is forecast to see a deeper-than-expected decrease of -4.6%.
The outlook for 2023 also remains negative (-1.6%). Although subject to high uncertainty, a moderate recovery will be seen in 2024 (+1.6%).
Despite a more general resilience of the EU economy, apparent steel consumption in the third quarter of 2022 reached its lowest level since the pandemic.
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