New high demand for automobile steel in Europe

In December, India's auto production rose 9.1% year-on-year to 1.91 million vehicles. The total output in the third quarter of the fiscal year also increased by 15.4% compared with last year, which greatly supported the demand of local automobile steel products.

In addition, Russia's automobile and light commercial vehicle (LCV) market will decline by about 9% in 2020, and the growth rate in the third and fourth quarters is good on a month on month basis, which is much lower than the previous pessimistic expectation. The European Business Association predicts that Russia's automobile and light commercial vehicle (LCV) market will grow by 2.1% in 2021, which may increase domestic automobile steel and so on plate demand by 30000 tons.

After a downturn in 2019, Turkey's car sales have achieved positive growth in 2020. In 2020, the sales volume of passenger cars and light commercial vehicles in Turkey will increase by 61.3% year on year to 772788. It is expected that the growth trend of Turkey's automobile sales will continue in 2021, and will continue to increase Turkey's automobile steel demand.