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With a comprehensive factbox on the situation in the European steel market, spglobal.com provides an interesting insight into the current situation. And where 2021 might be heading.

Recovery in European steel consumption outstrips production growth and keeps prices high
Recovery in European steel consumption outstrips production growth and keeps prices high

Some key statements about steel consumption:

  • Four major EU blast furnaces are currently being restarted
  • In return, three other blast furnaces will go offline for maintenance work in the course of the year
  • Steel availability is severely limited in some areas
  • Prices have in some cases already reached a 13-year high
  • Delivery times in the EU are already in the 3rd quarter of 2021
  • Eurofer sees a recovery in supply of just under 7.4% for 2021 and a further 4.1% in 2022
  • This compares with an increase in demand for steel products of almost 17% for 2021 and 2022 in the EU
  • Demand cannot be met by imports due to EU Safeguard measures

What else is moving the EU steel market?

Further, spglobal.com looks at developments in European infrastructure, trade flows and prices.

“HRC pricing has averaged EUR 710/mt since the start of January, having gained more than 70% over the last six months,” writes spglobal.com in their article.

The very interesting article, which is worth reading, can be found here

Source: spglobal.com

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