Belgium increased the import of rolled steel from third countries by 15% y/y in October

The export of steel products for the month fell by 6.3% y/y

In October 2023, Belgium increased imports of rolled steel products from third countries by 15% compared to October 2022, to 616.7 thousand tons. This is based on GMK Center’s calculations based on Eurostat data.

In October, imports of flat products increased by 41.4% y/y, while imports of long products decreased by 42.9% y/y, to 520.81 kt and 95.88 kt, respectively. Flat products accounted for over 84% of total steel imports to Belgium in October.

Hot-rolled flat products accounted for 255.8 thousand tons (+4.9 times y/y), coated flat products – 172.42 thousand tons (-18% y/y) and cold-rolled flat products – 79.91 thousand tons (+2.3 times y/y).

In January-October, imports of rolled steel products to Belgium amounted to 4.11 million tons, down 18.1% compared to the same period in 2022. Imports of long products fell by 24.8% y/y – to 844.68 thousand tons and flat products by 16.1% y/y – to 3.26 million tons during this period.

The main types of products imported by Belgian consumers in 9 months of 2023 are:

• flat hot-rolled steel – 1.32 million tons (+22.7% y/y);
• coated flat rolled products – 1.16 million tons (-29.4% y/y);
• cold-rolled flat products – 586.89 thousand tons (-18.5% y/y);
• hot-rolled rods and bars in riots – 324.67 thousand tons (+0.8% y/y).

Steel exports from Belgium in October 2023 fell by 6.3% y/y – to 175.19 thousand tons. Shipment of long rolled products increased by 35.3% y/y – up to 10.13 thousand tons, and flat – fell by 8.1% y/y, to 165.1 thousand t. In January-October, the indicator increased by 0.9% y/y, to 1.73 million tons, in particular, flat – by 0.6% y/y, to 1.65 thousand tons, and long – by 7.4% y/y, to 77.03 thousand tons.

The most exported flat products from other alloyed steels – 537.65 thousand tons (-4.3% y/y), and coated flat products – 432.71 thousand tons (+11.8% y/y) .).

In January-October steel production in Belgium amounted to 5.22 million tons, which is 11.4% less compared to the same period in 2022. In October, the country’s steelmakers reduced steel production by 8.8% compared to the previous month – to 438,000 tons. Year-on-year, the indicator decreased by 29.6%.

As GMK Center reported earlier, in 2022, Belgian steelmakers reduced steel production by 0.4% compared to 2021 – to 6.94 million tons. In December 2022, 667,000 tons of steel were produced, which is 13.8% more y/y and by 28.3% m/m.