According to European Confederation of Iron and Steel Industries (Eurofer), the steel consumption will pick up in late 2010 and early 2011. Eurofer predicted that steel consumption would rise by 18.9% in 2010 but the growth will slow down at 5.5% in 2011.

Meanwhile, thanks to strong growth in global market, Europe’s steel export has been up by 6% in 2010 and is expected to grow to 8% in 2011. At the same time, the steel import has risen by 30% as well in 2010 and will show a further increase by 13%~14% in 2011.

However, Eurofer said that steel industries would face some problems, such as difficulties to raise fund and increasing raw material costs.