The EUROFER 2023 press release has been published. According to the report, the expected -6.3% decline in steel consumption in Europe for 2023 reached -9.0%. Steel consumption totaled 29.9 million tonnes in the fourth quarter of 2023. Considering that Türkiye's annual steel consumption is 40 million tonnes, Europe's annual steel consumption is only about three times that of Türkiye. While a 1.1% increase in steel consumption was expected in the first quarter of 2024, a -1.0% decline was recorded. Imports increased by 11%, accounting for 27% of the market. For the full year 2024, a -1.0% contraction in steel consumption is expected, while 2.0% growth is projected for 2025.