European Steel in Figures 2012
Resource from: Steel Times International magazine Likes:336
Jun 04,2013
Compiled by Eurofer, 'European Steel in Figures' has become a valuable reference for everyone involved or interested in the European steel industry.
It contains a wealth of relevant data about an industry that is indispensable in creating sustainable growth for Europe. With more than 500 steel production and processing sites in 23 of the 27 EU member states providing direct and indirect employment for millions of European citizens the steel sector is the backbone of Europe’s industrial value creation chains.
The current edition of European Steel in Figures shows that 2012 has been a challenging year for the industry. The Eurozone crisis weighed down heavily on the performance of the economy in the European Union. The majority of large EU economies posted weak or negative growth. Activity in the steel using sectors in the EU continued to weaken during the year 2012. Total activity contracted by almost 3.5% in 2012. Domestic demand in the EU had already started 2012 on a weak note. The second half of the year was characterised by a further drop in business sentiment and intensifying financing restraints. At the same time, export demand came under pressure due to the slowdown in global economic growth.
Accordingly, crude steel production in the EU amounted to 168Mt. This is a reduction of 5% compared to 2011 and reflects EU steel mills adjusting production downwards in response to weakening real steel consumption and massive inventory reductions in the steel distribution chain.
The outlook for 2013 gives little reason for optimism. Total activity in the steel using sectors is expected to register a further slight decline due to the continuation of difficult operating conditions across most sectors.
Understanding economic development depends on meaningful and comprehensive data. ‘European Steel in Figures’ makes this information accessible. It also underlines the significance of the steel industry for the European economy.
(Steel Times International magazine)
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