EU Pig Iron, Crude Steel production declines in April: Eurostat

Steel News  |  2012-06-13 09:17:21   |   By

European Union pig iron, crude steel and ferroalloys production declined sharply by 9.1% year-on-year in April this year, as per latest data from statistical agency Eurostat on Wednesday.

BRUSSELS (Scrap Monster): European Union pig iron, crude steel and ferroalloys production declined sharply by 9.1% year-on-year in April this year, as per latest data from statistical agency Eurostat on Wednesday.

Eurozone countries recorded an 8.8% decline, the fastest rate of shrinkage since the downcycle began last October.

Compared with March, steel output weakened 2.9% in both the EU and the euro area, corrected for seasonal variations, following positive month-on-month growth throughout the first quarter.

EU manufacturers of steel tubes, pipes, hollow profiles and fittings posted a 7.2% year-on-year fall in production and makers of other steel products at the first processing stage a 7% drop. Casting activity was mixed, easing 4.8% in the iron segment whereas steel casting was 2.1% firmer.

Output trends at the end-user level also diverged: production fell 2.8% at EU manufacturers of fabricated metal products, eased 0.8% at motor vehicle factories and increased 1.1% at makers of machinery and equipment.