The severe consequences of the war in Ukraine and the deteriorating overall economic outlook continued to take their toll on the European Union’s (EU’s) apparent steel consumption in the third quarter (July-September, 2023) of last calendar. In Q3CY’23, apparent steel consumption dropped for the sixth consecutive quarter (-3.9%), albeit the rate was slower after -8% seen in the preceding quarter. The total volume decreased to 30.4 million tonnes, marking the third lowest level since the outbreak of the pandemic in the second quarter of 2020, informs the Eurofer “Economic and Steel Market Outlook, 2024-25”.
