According to analysis made by Macquarie Research, the European steel market has suffered from a particular low demand.
The analysis showed that the apparent steel demand in the European steel market decrease by 12.3% year on year in the first ten months of this year, worse than the estimate of 1.2% decline for the full 2012 made by the World Steel.
However, as industrial output in Europe shows a sign of bottoming, Macquarie expected a mild recovery in the European steel market in early 2013