EU Steel Market Faces Unprecedented Decline In 09 Years

The Eurofer said in a statement on February 5th.

The market will face unprecedented challenges in 2009.

。

* EU GDP is expected to decline by 1.9% in 2009.

* it is estimated that the output of the steel industry will decline by 7%-8% in 2009.

* the estimated annual consumption of iron and steel in the EU will be reduced by 15% in 2009.

* EU imports of steel products will fall by 11% in 2009.

The intensification will extend the financial sector to other parts of the economy.

It had already experienced a severe recession at the beginning of this year.

If policies and measures are introduced and implemented in a timely manner, then

It is most likely to get out of the bottom by the end of 2009.

The outlook for the steel industry in the EU has been fully impacted. It is estimated that the output will decrease by 10% in the first half of this year, and the downward trend in the second half of this year will gradually decrease.

Especially in the automotive industry and construction industry, the impact of economic recession is the biggest, and the machinery industry can not escape the sharp decline.

All industries are expected to have a moderate improvement in 2010.

The market has been affected.

Serious impact this year will face unprecedented decline.

In the first half of 2009, the actual consumption ratio of steel will continue to decline by two digits, and the circulation and end users will further adjust their inventory.

Compared with the very low level of consumption in the fourth quarter of 08, the fourth quarter of 09 years is expected to increase.

Imports of iron and steel products in 2009 are expected to fall by 11%, but import pressure will remain high.

The industrial alliance expects that the annual consumption of steel and iron will decrease by 15% in 2009 compared with that in 2010.