Steel consumption in the European Union slid by 12% year-on-year in the first quarter as the COVID-19 pandemic worsened an already weak picture, industry group Eurofer said on Wednesday.
The coronavirus crisis is likely to show a bigger impact in the second quarter because lockdown measures only kicked off in the last month of the quarter, a statement said.
“The coronavirus pandemic has cut the legs out from under the European steel industry, causing severe damage to the whole sector and its value chains”, said Eurofer Director General Axel Eggert.
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