EUROFER Expects Weak Steel Demand Through Remainder of 2019
10/31/2019 - The downturn in European steel demand is likely to persist through the end of this year and into 2020, according to a new forecast from the European Steel Association.
“The current downslide of the manufacturing sector in the EU is not likely to bottom out soon," said Axel Eggert, director general of the European Steel Association. “Escalating trade disputes between the U.S. and several of its main trading partners and persistent uncertainty regarding Brexit could further impact the EU steel industry.”
The association said the slide in steel demand is the result of the ongoing slump in the EU’s manufacturing sector. The slump is stemming from weakened exports and investments, a trend that has become more pronounced during the second quarter of this year.
The association said the slide in steel demand is the result of the ongoing slump in the EU’s manufacturing sector. The slump is stemming from weakened exports and investments, a trend that has become more pronounced during the second quarter of this year.
