Steel consumption in the EU is expected to increase in 2024

The European Steel Association (Eurofer) has stated that it expects visible steel consumption in the European Union to increase by 5.4% in 2024. However, the overall progress of steel demand still faces uncertainty, which will continue to weaken steel demand. Eurofer emphasizes that positive developments in steel consumption are expected from the third quarter of 2023 onwards. Meanwhile, visible steel consumption is likely to record a decline of around 1% in 2023 due to high energy prices and weak demand.