Steel demand and prices in Europe will rise again after years of falls, the chief of Tata Steel Europe Karl-Ulrich Koehler said Tuesday.

Growth in demand is expected to be 3 to 4 percent in 2014, German newspaper Handelsblatt quoted Koehler as saying.

"The industry has passed a low point," Koehler said, adding "we expect that prices will go upwards."

Europe's steel industry has not yet fully recovered from the slump following the financial crisis in 2008. Many steel producers are still in the red, including Tata Steel Europe, the second biggest producer in Europe.

Meanwhile, there is good news for steel producers on the purchasing side with industry resources saying iron ore and coal has become cheaper in recent months. Endit

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