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European steel demand remains weak in the first quarter of 2012
In the first quarter of this year, demand for steel in Europe remained weak, down from the same period of the previous year, but industry analysts said that the demand for steel that people are worried about is obviously not likely to fall, because the final demand has not been fully released. Due to the strong performance in the first quarter of last year and the abnormal weather in Europe in February this year, the comparison between the first quarter of this year and the same period last year was very different. However, although the overall demand in Europe has declined, it will gradually improve in the second quarter, and the second half will be significantly improved on the current basis, especially in the fourth quarter. The risks of continued decline remain, including the continued implementation of the European credit crunch and the uncertainty of the sovereign debt crisis. However, better expectations of overseas demand will support the demand for steel in the second half of Europe. If the US economic recovery is much better than expected, China’s real GDP growth rate will be 7% this year, and apparent steel demand will continue to grow. , although it may slow down to 5%. Jeroen Vermeij, head of market analysis and economic research at Eurofer, said that market sentiment is gradually improving and that demand for steel in Europe is expected to recover in the second half of the year. As stocks fell to medium to low levels, actual demand and apparent demand performance began to coincide. The current apparent demand reflects the actual steel demand in Europe. Eurofer expects that the apparent consumption of steel in the 27 EU countries will fall by 2% in 2012.