Italy imported 7.2 million tons of steel from third countries in 2023

The export of steel products for the year amounted to 2.03 million tons

In 2023, Italy reduced imports of rolled steel products from third countries by 3.8% compared to 2022, to 7.17 million tons. This is according to GMK Center’s calculations based on Eurostat data.

Imports of flat products decreased by 3.9% y/y and long products by 3.6% y/y – to 6.35 million tons and 815.3 thousand tons, respectively. Flat products accounted for more than 88% of total steel imports to Italy in 2023.

Hot-rolled flat products accounted for the bulk of imports – 4 million tons (+19.8% y/y), cold-rolled flat products – 501.8 thousand tons (-16.5% y/y) and coated flat products – 1.1 million tons (-18% y/y).

In December, imports of rolled steel products to Italy totaled 153.35 thousand tons, down 41% y/y. Supplies of long products increased by 36.3% y/y – to 43.02 thousand tons, while flat products decreased by 51.7% y/y – to 110.33 thousand tons.

Last year, steel exports from Italy increased by 4.2% compared to 2022 – to 2.03 million tons. In particular, long products increased by 6.8% y/y – to 1.18 million tons, and flat products by 0.7% y/y – to 856.91 thousand tons.

The largest exports were of hot-rolled flat products – 335.32 thousand tons (+24.9% y/y), wire – 264.34 thousand tons (-13.6% y/y), other rods and bars without processing, twisted – 243.11 thousand tons (+33.1% y/y) and coated flat products – 219.35 thousand tons (-8.5% y/y).

In December, Italy exported 141.12 thousand tons of rolled steel, which is 5.1% less compared to December 2022. Exports of long products decreased by 4.7% y/y – to 67.66 thousand tons, and flat products by 5.%% y/y – to 73.45 thousand tons.

As GMK Center reported earlier, in 2023, Italian steelmakers reduced steel production by 2.5% compared to 2022, to 21.06 million tons. The decline in steel production was driven by a decline in global demand for steel products and high energy costs.

Long products production for the year amounted to 11.68 million tons, down 2.9% compared to 2022, and flat products production amounted to 9.54 million tons (-0.1% y/y).

In total, the EU produced 126.3 million tons of steel in 2023, down 7.4% y/y. In December, the EU countries increased steel production by 2.7% compared to December 2022 – up to 9.1 million tons.