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Economic and steel market outlook 2019-2020, fourth quarter
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Apparent steel consumption fell by 7.7% year-on-year in the second quarter of 2019, after a drop of 1.6% in the first quarter. The negative trend in steel demand is the result of the ongoing slump in EU’s manufacturing sector due to weakened exports and investment that has become more pronounced during the second quarter of this year. Leading indicators forecast a continuation of the downturn for the remainder of the year, with no rebound before the second quarter of 2020.
The current downslide of the manufacturing sector in the EU is not likely to bottom out soon: escalating trade wars between the US and several of its main trading partners and persistent uncertainty regarding Brexit have the potential to severely impact global trade conditions, lead to a further deterioration in business sentiment and curb investment growth. In this scenario, the EU steel sector would be severely impacted, also having to cope with growing import distortions as well as higher volatility as a result of the increase of safeguard measures’ quota both this year and next.
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Brussels, 11 July 2025 – The delay and ongoing uncertainty about a deal on tariffs between the EU and the U.S. further worsens the crisis for the European steel industry. U.S. steel tariffs at 50% are adding fuel to an already explosive situation, putting the sector at risk of losing all its exports to the U.S. and facing a surge of deflected trade flows redirected from the U.S. to the EU market. The lack of bold and timely implementation of the Steel and Metals Action Plan is further accelerating the sector’s deterioration, says the European Steel Association.
Brussels, 02 July 2025 – The 90% climate target proposed today by the European Commission demands an unprecedented transformation of EU society and industry in just 15 years. The European steel industry is already doing its part, but a viable business case for the transition is still lacking. To enable it, the EU needs to implement the Steel and Metals Action Plan much more decisively, delivering a highly effective trade protection against global overcapacity, access to internationally competitive low carbon energy and scrap, and a watertight CBAM, says the European Steel Association.
How global overcapacity is destroying European industries
The European Steel Association (EUROFER)
172 Avenue de Cortenbergh
1000 Brussels
Belgium
Email: mail@eurofer.eu
Phone: +32 (0) 2 738 79 20
