EU imported 587.3 thousand tons of DRI in Q1

DRI

In January-March 2025, the European Union reduced imports of direct reduced iron (DRI) by 18% compared to the same period in 2024, to 587.3 thousand 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 – 351.16 thousand tons (+88.5% y/y);
Austria – 88.3 thsd tonnes (+26% y/y);
Spain – 69.86 thsd tonnes (+164% y/y);
Germany – 8.65 thsd tonnes (-96% y/y).

Russia is the largest supplier of DRI to the EU. In January-March, Russian companies shipped 186.3 kt of direct reduced iron to European consumers, down 26.8% y/y.

The main importers of Russian products are Italy – 143.5 thousand tons, down 16.1% y/y, and Spain – 42.8 thousand tons (0 thousand tons in January-March 2024).

Libya shipped 88.78 thsd tonnes of DRI to the EU in 3 months, down 18% y/y. Venezuela exported 155.49 thsd tonnes of the product to the EU (+141.5% y/y).

In March, the EU imported 179.17 thsd tonnes of DRI, up 42.3% y/y and 27.4% m/m.

During the month, Russia exported 70.85 thsd tonnes of raw materials to the EU (+57.5% y/y, +8.9% m/m), Libya – 0.9 thsd tonnes (-91.8% y/y, -98.6% m/m). Venezuela shipped 41.91 thsd tonnes of DRI to the EU (0 thsd tonnes in March 2024, -29.6% m/m).

As a reminder, in 2024, the EU increased imports of direct reduced iron from third countries by 5.4% compared to 2023, to 2.75 million tons. In 2023, there was a drop of 11.1% y/y. The largest importers of DRI among the EU member states last year were: Italy – 659.73 thsd tonnes (-23.7% y/y), the Netherlands – 527.27 thsd tonnes (+423%), Germany – 438.46 thsd tonnes (-33.5%).

Traditionally, the key suppliers of DRI to the EU in 2024 were Russia, Libya, the USA, Venezuela, and Canada. These countries accounted for about 85% of raw material supplies to the bloc, with Russia accounting for 38%.