29-01-2025
SSAB Chief Expects European Steel Demand to Remain Lackluster
The slump in European steel consumption, driven by the weak construction and automotive industries, isn't about to end anytime soon, according to the new chief of Sweden's biggest steelmaker.
Steel demand is often viewed as a key barometer of the world economy, and producers in Europe and the US are also being squeezed by a wave of cheap Chinese imports. Usage in Europe last year was even lower than during the pandemic year of 2020 and one of the lowest 'in a long period of time,' according to SSAB AB Chief Executive Officer Johnny Sjostrom.
