Automotive steel is a ‘growth sector, for now’

According to a recent report by the European Steel Association (EUROFER), EU steel consumption grew 3.1% year-on-year (YoY) in the first quarter of 2016, with “automotive activity growing vigorously.” Imports climbed 24% while domestic deliveries dropped by 1%. The association expects demand to rise by a further 1% in 2016, followed by a further “steady rise” in 2017.