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Revision of the Circular Economy Monitoring Framework
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In conclusion, the European Commission revision is a key starting point, but its effectiveness will depend on available data, granularity of indicators and a sufficient degree of relevance to specific circular economy targets. The EU steel sector looks forward to cooperating with the European Parliament and the European Council for improving the current set of circular economy monitoring indicators.
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Brussels, 03 May 2023 – The year 2022 came to a close with a sharper-than-anticipated recession in apparent steel consumption (-7.2%) as steel demand shrank significantly, due to the energy crisis and the impact of the war in Ukraine. Although the worst seems to be over after the fourth quarter of 2022, apparent steel consumption is still projected to be negative (-1%) in 2023, before rebounding in 2024 (+5.4%). However, high uncertainty continues to cast a shadow on the outlook for 2023, which remains bleak. Although steel imports have decreased in tandem with demand, their market share is still historically high (23.4%).
Second quarter 2023 report. Data up to, and including, fourth quarter 2022
Joint industry statement