EU's production of steel pipes fell by 0.7% in Q1
Time:Wed, 25 Aug 2021 07:52:34 +0800
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According to a report from the European Steel Association (EUROFER), the EU's production of steel pipes fell by 0.7% quarter on quarter and year on year in the first quarter of 2021.
In the third quarter of last year, the EU’s pipe production decreased by 11.7% year on year although the blockade measure was lifted.
The EUROFER forecasted that the oil and gas industry will have a great amount of demand for large steel welded pipes, which will boost the steel pipe industry's production in the third quarter of this year.
In addition, the construction, automotive, engineering industry are gradually restoring, and these industries have restored their production activities to hit the historical high. However, the EU steel pipe industry is still facing import pressure.
The EUROFER said that the EU’s steel pipe production will rebound by 9.8% and 4.6% in 2021 and 2022, respectively.
