EUROFER - Economic and steel market outlook 2023-2024

The Economic and Steel Market Outlook for 2023-2024 provides a comprehensive analysis of the steel industry in the European Union. The report highlights that the steel industry is expected to experience a recovery in demand in 2023 and 2024, following a challenging year in 2022. The construction sector is expected to be a key driver of steel demand, particularly in civil engineering. However, the steel industry is facing challenges related to environmental regulations and the need to transition to more sustainable production methods. Confidence and leading indicators have been impacted by concerns over supply chain issues and inflation, but are expected to improve in the coming months. The report suggests that steel companies can take steps to mitigate the effects of economic uncertainty and inflation on their production costs, such as investing in new technologies and improving efficiency. The report also provides an overview of the EU steel market, including real and apparent steel consumption, imports, and exports. The outlook for steel-using sectors, such as the construction, automotive, mechanical engineering, steel tube, and electrical domestic appliances industries, is also discussed. Additionally, the report includes a glossary of terms and definitions related to the EU steel market, as well as information about the European Steel Association (EUROFER) and the European steel industry. Overall, the report provides valuable insights into the current state and future prospects of the steel industry in the European Union.