October 25, 2017 / 9:36 AM / a year ago

EU steel demand to grow 2.3 percent in 2017: Eurofer

LONDON (Reuters) - EU steel demand will rise by 2.3 percent this year and continue its gradual recovery next year, but the extent to which local steelmakers will benefit from this is uncertain as import distortions remain, industry body Eurofer said.

FILE PHOTO: A worker controls a tapping of a blast furnace at Europe's largest steel factory of Germany's industrial conglomerate ThyssenKrupp AG in the western German city of Duisburg December 6, 2012. REUTERS/Ina Fassbender/File Photo

“Strengthening investment and robust exports are boosting the performance of steel-using sectors in the EU. However ... foreign supply remains a critical issue for the EU steel sector,” Eurofer said in a statement on Wednesday.

The European steel industry, worth about 170 billion euros a year, is seen as a gauge of the region’s economic health.

Reporting by Maytaal Angel; editing by Jason Neely

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