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EU steel downturn set to persist due to US tariffs, sluggish industrial demand

By Joanna Sopinska ( June 5, 2025, 15:51 GMT | Official Statement) -- MLex Summary: Eurofer, the lobby group representing the EU steel industry, has warned that the market faces a prolonged downturn, with recovery now delayed until at least 2026, due to global uncertainty and the impact of new US tariffs. Eurofer's latest Market Outlook forecasts a fourth consecutive annual decline in apparent steel consumption in 2025 (-0.9 percent), reversing earlier growth expectations of +2.2 percent. Steel-using sectors will also remain in recession, and high import levels — 27 percent in 2024 — are continuing to strain the market. Despite resilience in the broader economy, industrial weakness is weighing heavily on steel demand.Statement follows and economic outlook is attached. ...

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