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Apparent EU steel consumption was expected to rebound by 13.3% in 2021 and then grow by a more moderate 3.4% in 2022, after one of the worst years years ever for the industry, European steel association Eurofer said in its Economic and Market Outlook report Feb. 10. Eurofer adjusted its forecast 2020 decline in apparent .
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LONDON, Feb 10 (Reuters) - Demand for steel in the European Union and Britain fell by 11.6% year on year in the third quarter of 2020 as the COVID-19 pandemic hit industrial activity but it is expected to bounce back this year, industry group Eurofer said on Wednesday.
“2020 is likely to be one of the worst years on record, even if we will see positive figures in the fourth quarter,” said Eurofer Director General Axel Eggert.
The third quarter decline in apparent steel consumption for the 27 EU members plus Britain to 32.8 million tonnes was an improvement on the tumble of 25% in the second quarter, the European Steel Association said in a statement.
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