EU imported 2.53 million tons of DRI in January-November

In January-November 2024, the European Union increased imports of direct reduced iron (DRI) by 7.2% compared to the same period in 2023, to 2.53 million tons. This is according to GMK Center’s calculations based on Eurostat data.

The main importers of direct reduced iron among the EU countries in the period under review were Italy, Germany, Austria and the Netherlands, among others:

• Italy – 659.73 thousand tons (-13.3% y/y);
• Germany – 438.46 thsd tonnes (-27.4% y/y);
• Austria – 239.91 thsd tonnes (+44.5% y/y);
• Spain – 242.07 thsd tonnes (+4% y/y);
• Netherlands – 392.4 thsd tonnes (100.73 thsd tonnes in January-November 2023).

Russia is the largest supplier of DRI to the EU. In January-November, Russian enterprises shipped 994.65 kt of direct reduced iron to European consumers, down 6.3% y/y.

The main importer of Russian products is Italy – 487.99 thousand tons, down 18.9% y/y. Belgium is in second place with 207.16 thsd tonnes (+0.7% y/y), and Poland is in third place with 154.1 thsd tonnes (+180.2% y/y).

Libya shipped 423.2 thsd tonnes of DRI to the EU in 11 months, up 4.5% y/y. Venezuela exported 293.98 thsd tonnes of the product to the EU (+129.5% y/y).

In November, the EU imported 269.65 thsd tonnes of DRI, up 61.8% y/y and 51.7% m/m. The figure reached a 5-month high.

In November, the Russian Federation exported 105 thsd tonnes of raw materials to the EU (+5.1% y/y, +69.5% m/m), while Libya did not supply (19.6 thsd tonnes in November 2023 and 23.1 thsd tonnes in October 2024). Venezuela shipped 27.1 thsd tonnes of DRI to the EU, while in November 2023 it did not supply, and in the previous month – 33.59 thsd tonnes.

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).