۱٫۱٫ Eurofer

Eurofer (Belgium) reviewed the state of the European economy and steel market [1]. The beginning of 2017 was a time of both hope and unrest. On the one hand, there were positive trends in the economy, with indications of further growth; on the other, risks and indeterminacies were evident not only within the European Community but around the world. The GDP of Europe grew. Unemployment in the European Community (EC) had fallen to 8% by February 2017 (the lowest level since January 2009). In March, inflation fell thanks to low oil prices. The value of the euro has benefited exporters. Fiscal policies are expanding. Overall, the prospects for 2017 and 2018 are regarded as favorable, but there are problems associated with Brexit, certain companies in the EC, population growth, protectionism and trade barriers, the lack of leadership in the EC, geopolitical conflicts, financial instability in China, and other factors. According to Eurofer predictions, the sector of the EC that consumes steel will grow stronger in 2017 and 2018. In 2016, the demand for finished steel products rose by 3.2%. Steel imports rose by 9%. In the fourth quarter of 2016, it was building toward peak values in 2017. In the second quarter of 2016, the share of imports in steel consumption reached a record level: 24%. Local supplies of steel products increased by no more than 1.6% in 2016, and exports fell by 11%. Raw steel production fell from 166 million t in 2015 to 162 million t in 2016. The EC continued to experience pressure on its competitive markets, reflecting the influence of global overproduction and the lack of prospects for increases in European exports of steel products.