EUROFER: recovery in steel demand in the EU will last until the end of 2021

The European Steel Association (EUROFER) reported that apparent steel consumption in the EU increased by 0.9% in the first quarter of this year, compared with an increase of 3.6% in the fourth quarter of last year.

Axel Eggert, CEO of EUROFER, indicated that the recovery in steel processing and steel demand will continue until 2021, although the overall economic recovery appears to be unbalanced and carries potential risks in the EU.

Imports fell 5.4% and 2.5% in the fourth quarter of 2020 and in the first quarter of 2021, respectively, falling for nine consecutive quarters.

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