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European Steel in Figures 2020
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European Steel in Figures 2020 is the European Steel Association’s (EUROFER) statistical guide. It shows a sector that has experienced a challenging year in 2019, with employment levels stable but demand beginning to fall off. In 2019, imports fell from the record rise seen in 2018 - in line with falling demand. The decline in production and demand will have an impact on future employment figures, as will the impact of the COVID-19 outbreak. Total employment – jobs directly or indirectly, or induced by the sector – now stands at 2.6 million. Total Gross Value Added is €140 billion.
This new European Steel in Figures 2020 guide updates the trade map, showing imports and exports from the EU in an easy-to-understand way, breaking down previously hard to read figures. Additionally, the sustainability section of the guide has been doubled in size and updated with the latest data, now including refreshed information on slag production by the steel industry and its use by other downstream sectors.
All these statistics help give an overview of the European steel industry today. Awareness of the employment, production, demand and trade challenges that face the sector ensure a greater understanding of our strategically important sector. With this in mind, I hope you enjoy using European Steel in Figures 2020.
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The outlook for the European steel market in 2024 continues to lose momentum amidst persisting challenging conditions. Downside factors such as worsening geopolitical tensions, coupled with growing economic uncertainty, energy prices, inflation, interest rates have further impacted demand prospects. According to EUROFER’s latest Economic and Steel Market Outlook, these challenges have exacerbated the negative effects on apparent steel consumption, resulting in a more severe downturn in 2023 than previously projected (-9%, instead of -6.3%) and weaker growth in 2024 (+3.2%, instead of +5.6%). Output in steel-using sectors, despite showing more resilience than expected in the past year (+1.1%), is now set to decline (-1%). Imports are once again on the rise (+11% in the last quarter of 2023), capturing a staggering 27% market share throughout 2023.
Second quarter 2024 report. Data up to, and including, fourth quarter 2023
Brussels, 22 March 2024 – The future of a strong and resilient EU can only be forged with steel made in Europe. Europe-made low-carbon steel has a strategic role as it enables a net-zero economy, but today it faces strong headwinds from high energy prices, unfair competition, global overcapacity and growing unilateral carbon costs. The year 2023 has recorded the lowest European crude steel production levels ever, with a number of idled plants and dire impact on workers. Ensuring the enabling conditions for the short-term viability and the decarbonisation of the steel sector urgently needs to be at the top of the EU agenda. This is the message delivered by the European Steel Association together with a number of high-level representatives of the sector on the occasion of the Clean Transition Dialogue on Steel in the presence of the Executive Vice Presidents of the European Commission, Maroš Šefčovič and Margrethe Vestager.