Steel consumption diverges from production in the EU

Roland Döhrn, professor of economics at the University of Duisburg-Essen in Germany, analyzed the dynamics of consumption and production of steel-using sectors in Europe. According to his analysis, the relationship between steel consumption and production was fairly stable before 2021, but this balance was lost after 2021.

Mr. Döhrn highlighted a trend in which steel users' production is increasing but steel consumption is decreasing, and evaluated various factors to explain this situation. He noted that lightweighting efforts, material changes and renovation projects in the construction sector are affecting steel demand. He also emphasized that steel users importing more finished parts and components from overseas could play a role in this imbalance.

Döhrn's observations point to a prediction that future production in the steel market may be less affected by the activities of steel users.