EU steel demand to grow 2.3 percent in 2017 - Eurofer

A worker loads steel bars for export at a port in Lianyungang, Jiangsu province June 4, 2013. REUTERS/Stringer

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.

“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 (£151.6 billion) a year, is seen as a gauge of the region’s economic health.

Reporting by Maytaal Angel; editing by Jason Neely