Some European steel mills considered that the production of crude steel will grow steadily in the first half of 2021, and the demand will exceed the production growth and thereby support prices stimulated by government economic measures.

In Europe, there are four major blast furnaces that are currently resuming production and the other three were planned to maintain later this year. Therefore, some regions will confront the production shortage and the price will continue to rise due to postponed delivery.

According to the European Steel Association (EUROFER), the regional production was expected to increase by 13.3% and 3.4% in 2021 and 2022, respectively.