Demand for steel in Europe will exceed production growth

Some European steel companies believed that crude steel production would grow steadily in the first half of 2021, and demand would exceed production growth and thus support prices driven by government economic measures.

There are four major blast furnaces in Europe that are currently resuming production, with the remaining three scheduled to be maintained later this year. Therefore, some regions will face a shortage of products, and the price will continue to rise due to delayed deliveries.

According to the European Association of Steel Producers (EUROFER), production in the region is expected to grow by 13.3% and 3.4% in 2021 and 2022, respectively.

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