EUROFER downgrades EU apparent steel consumption expectations in 2025 to +2.2%

The European Steel Association EUROFER has revised its forecast for apparent steel consumption in the EU in 2025, lowering the expected growth to +2.2% from the previous +3.8%. This reflects the ongoing difficulties in the sector amid global economic uncertainty, high energy costs and rising imports.

According to EUROFER’s latest forecast, the recession in Europe’s apparent steel consumption in 2024 will be deeper than expected: a drop of 2.3% instead of the previously forecast -1.8%. At the same time, the steel-consuming sectors also show weak dynamics: their decline in 2024 will deepen to -3.3% (against the previously expected -2.7%), and the projected growth in 2025 will slow to +0.9% (instead of +1.6%).

The problem of steel imports remains critical, reaching a historically high level of 28% of total consumption in the third quarter of 2024. At the same time, domestic supplies continued to fall (-2.3% after -1.6% in the previous quarter), which increases pressure on European producers.

“We can no longer tolerate a situation where external factors – massive dumping, uncompetitive energy and CO2 prices, weakening demand and geopolitical risks – are structurally undermining our industry,” said EUROFER CEO Axel Eggert.

The Association calls on the European Commission to take immediate action to stabilize the market, in particular by restricting imports and creating conditions to stimulate investment in decarbonization. It is expected that 2025 will be a key year for making decisions on the future of the European steel industry.

As GMK Center reported earlier, steel production in the European Union increased by 2.6% in 2024 compared to 2023, to 129.5 million tons. Global steel production for the year amounted to 1.84 billion tons, down 0.9% year-on-year.

  • Global Market

Kazakhstan is preparing a six-month ban on billet exports

Kazakh authorities are preparing a six-month ban on the export of steel billets. The Ministry…

Thursday May 29, 2025
  • Global Market

Austria reduced steel production by 6% y/y in January-April

In January-April 2025, Austrian steelmakers reduced steel production by 6% compared to the same period…

Thursday May 29, 2025
  • Companies

Companies of the Turkish OYAK Group put new equipment into operation

Turkish steel producers Erdemir and Isdemir (part of the OYAK Mining and Metallurgical Group) have…

Thursday May 29, 2025
  • State

Parliament’s Economic Committee urges government to work on postponing CBAM

The Parliamentary Committee on Economic Development has called on the government to take the necessary…

Wednesday May 28, 2025
  • Global Market

Brazil renews and expands safeguard measures on steel imports

The Brazilian government has renewed the safeguard measures on steel imports adopted last year. This…

Wednesday May 28, 2025
  • Global Market

Global scrap consumption in 2024 decreased to 460 million tons

Global scrap consumption in 2024 decreased by 1% compared to 2023, to 460.6 million tons,…

Wednesday May 28, 2025