The EU market for steel products is only modestly growing, yet imports continue to increase as EU trade defence is still not responsive enough, says the European Steel Association (Eurofer). EU apparent steel consumption grew 3.1% year-on-year in the first quarter of 2016. Improving business activity at the end-user level and inventory replenishment in the downstream steel supply chain fuelled steel demand. Improving international steel pricing conditions since mid-February and lengthening lead times also explain the increase in buying interest and related stockpiling over the quarter.
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