EUROFER

European steelmakers are implementing more than 60 decarbonization projects

In 2024, the indicator will grow by 7.6%, but will face geopolitical unpredictability and economic uncertainty

The aim is to ensure the sustainability of the industry and compliance with the EU's overall transition to green and digital technologies

The main drivers of negative expectations are high energy prices, increased production costs and the war in Ukraine

The proposed steps do not address the root causes of high prices

The growth of consumption will be ensured by the automotive and machine-building sectors

EUROFER expects this figure to decrease by 1.6% in 2023

In 2022, global steel production decreased by 4% due to geopolitical challenges, the war in Ukraine and the energy crisis

The supply of flat rolled products to the EU decreased by 9% y/y for the year, and long products – increased by 11% y/y

Shipments of flat rolled products from the EU decreased by 10% y/y, and of long products – by 22% y/y

Apparent steel consumption expected to fall 1% in 2023

Due to the war, Europe lost about 20 million tons of steel from Ukraine