EU Monitoring: EU steel shortage that persists in 2021
In the summer of 2020, there was a lull in the steel mills – due to the pandemic, demand had collapsed. Since then, industrial production in Europe has been picking up again and the steel demand is growing, but steel manufacturers are still not keeping up with production. So, we are in a situation of clear lack of inventories, at a time when demand began to rise.
Industry experts explain the price jumps, among other things, with the lockdown. In the beginning, industries came to a standstill overnight, such as large parts of the automotive industry. However, production has not been completely shut down, because a premature shutdown of a blast furnace causes millions in damage. Instead, the company has throttled the plants as much as possible and prepared for the ramp-up after the shutdown.
For EPTDA, Oxford Economics report covers detailed analysis of Manufacturing Output, Construction Output, Service Sector Output, Value of Industrial Production per country, overall Industrial Production as a share of GDP, and top 10 fastest-growing and slowest-growing sectors per country.
The Q4-2020 analysis shows that all key indicators are expected to contract in 2020 for all countries covered in the data: Finland, France, Germany, Italy, the Netherlands, Poland, Russia, Spain, Turkey and the UK. Industrial production (manufacturing, extraction and utilities) is forecast to lag economic growth at the end of 2020 – with Italy, Germany and France losing with double digit numbers.
All 10 countries covered in the data are forecasted to have growth and recovery on the horizon in the industrial production and manufacturing output in 2022.
Check out also
PTMI Teaser #2
“To be forewarned is to be forearmed”
Please Join in! – it costs nothing! – it takes 5 minutes of your time per month! – your information is secure! – the result ‘priceless’!
*Exclusively sent to EPTDA members
2021 PLI Report: Aggregates Industry
The latest PLI Report on the Aggregates Industry explores trends, identifies products used in the extraction of aggregates and production of cement, clarifies key challenges, and considers the opportunities and how they can be capitalised.