EU imported 2.09 million tons of DRI in January-September

Imports increased by 3.1% y/y

In January-September 2024, the European Union increased imports of direct reduced iron (DRI) by 3.1% compared to the same period in 2023, to 2.09 million tons. This is evidenced by Eurostat data.

The main importers of direct reduced iron among the EU countries for the period are Italy, Germany, Belgium, and the Netherlands, in particular:

• Italy – 513.58 thousand tons (-26.4% y/y);
• Germany – 438.45 thsd tonnes (-15.4% y/y);
• Belgium – 189.95 thsd tonnes (-26.4% y/y);
• Spain – 193.18 thsd tonnes (+6.9% y/y);
• Netherlands – 282.32 thsd tonnes (66.67 thsd tonnes in January-September 2023).

Russia is the largest supplier of DRI to the EU. In January-September, Russian enterprises shipped 789.6 kt of direct reduced iron to European consumers, down 17.4% y/y.

The main importer of Russian products is Italy – 392.01 thousand tons, down 27.9% y/y. Belgium ranks second with 158.51 thsd tonnes (-22.9% y/y), and Poland is third with 120.09 thsd tonnes (+263.9% y/y).

Libya shipped 400.14 thsd tonnes of DRI to the EU in 9 months, up 9.3% y/y. Venezuela exported 233.29 thsd tonnes of the product to the EU (+82.1% y/y).

In September, the EU imported 179.03 thsd tonnes of DRI, down 20.4% y/y and 17.8% m/m.

At the same time, there is a change in the structure of suppliers. In September, the Russian Federation exported 70.77 thsd tonnes of raw materials to the EU (-11% y/y, +34% m/m), while Libya exported 14.19 thsd tonnes (-72.8% y/y, -70.1% m/m). Venezuela shipped 50.8 thsd tonnes of DRI to the EU, while in September 2023 and in the previous month it did not supply.

As GMK Center reported earlier, in 2023, the EU reduced imports of direct reduced iron (DRI) by 11% compared to 2022, to 2.61 million tons. In December 2023, the volume of DRI supplies to European consumers increased by 19.9% compared to the previous month, and by 146.5% compared to December 2022, to 213.12 thousand tons. The largest supplier of DRI is Russia – 1.19 million tons (-21.3% y/y).