Steel 2021 positive outlook

According to the European Steel Association in 2020 (Eurofer), steel consumption in the EU was 134 mln tons, down 13% compared to 2019. The year just ended is the worst since 2009 and reflects a contraction on both the production and import side.
The outlook for 2021 and 2022 is positive. Volumes are expected to grow and should return to 152 million tons this year, close to the 2019 level.

Apparent steel consumption in the EU in million tons – Eurofer

In terms of sectors of use, construction remains the most important, followed by automotive.

% Share in total Consumption

The automotive sector remains the most volatile, in 2020 it was the hardest hit, in 2021 it is the one expected to recover the most. Full details in the chart below.

Steel user sectors forecasts – Eurofer

Some sectors more than others will drive real steel consumption, which after -11% in 2020 is expected to post +7.5% in 2021 and +2.9% in 2022.

Forecast for real steel consumption – Eurofer