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EUROFER - Update on Real Steel Consumption in EU in Q1 of 2019

Steel News - Published on Tue, 14 May 2019

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Real steel consumption rose by 0.5% YoY in the fourth quarter of 2018 and was 41.1 million tonnes. The ongoing deceleration in production growth in EU steel using sectors resulted in only marginal growth in real steel consumption at 0.5% YoY in the fourth quarter of 2018. Growth in real steel consumption slowed markedly in the third quarter and coming almost to standstill in the final quarter of 2018 marks the end of a period of very robust quarterly increases in final steel use in 2017 and the first half of 2018. On balance, total real steel consumption in the EU rose by 2.3% in 2018.

Real steel consumption forecast 2019-2020 - The weakened prospects for growth of production activity in EU steel-using sectors over the 2019-2020 period will inevitably translate into only very moderate growth of real steel consumption over that period. This situation is compounded by the fact that the steel intensity of production in the EU steel using sectors is negative, owing to investment increasingly being geared towards services, limiting material content in its product mix.

EU real steel consumption is forecast to grow by 0.2% in 2019 and by 0.5% in 2020.

This will result in real steel consumption reaching 163 million tonnes in 2019 and 164 million tonnes in 2020. This implies that the expected moderation in real steel consumption growth will result in final steel use in the EU market gaining a meagre 1.3 million tonnes by the end of 2020 compared with consumption in 2018.

Forecast for real consumption - % change year-on-year
Period2018Q1'19Q2'l9Q3'19Q4'192019Ql'20Q2'20Q3'20Q4'202020
% Change2.30.2-0.20.40.80.30.00.60.70.70.5
 

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Posted By : Rabi Wangkhem on Tue, 14 May 2019
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