Uncertainty about the Eurozone debt crisis has led to a wide range of European steelmakers to forecast lower than expected growth rates over 2012, as economic uncertainties continue to play havoc with the Eurozone.

Eurofer, which represents steelmakers such as ArcelorMittal (MT), the world’s largest steelmaker, Germany’s ThyssenKrupp (TKA.XE) and Austria’s Voestalpine (VOE.VI), believes that real steel consumption will grow by a fairly modest 2% next year, in comparison to the 6.1% rise this year.

“Prospects for 2012 have remained mildly positive despite high levels of uncertainty surrounding the outlook for the steel using industries in the EU,”  claimed Eurofer in its fourth quarter economic outlook report.

The report added “Slipping indicators and increased risk and uncertainty levels related to the intensification of the Eurozone sovereign debt crisis have led to Eurofer’s Economic Committee revising its economic growth forecasts for 2011 and 2012.”