EU reduced rolled steel import from third countries by 4.5% y/y in November

In November 2023, the European Union reduced imports of rolled steel products from third countries by 4.5% compared to November 2022, to 1.61 million tons. This is based on GMK Center’s calculations based on Eurostat data.

In November, imports of flat products decreased by 4.1% y/y and imports of long products decreased by 5.3% y/y – to 1.12 million tons and 492.52 thousand tons, respectively. Flat products accounted for over 69% of total EU steel imports in November.

Hot-rolled flat products accounted for the bulk of imports in November, with 415.91 thousand tons (-31% y/y), coated flat products – 381.2 thousand tons (+41.5% y/y), and other untreated rods and bars, including twisted rods – 191.5 thousand tons (+59.5% y/y).

In January-November, imports of rolled steel products to the EU amounted to 25.9 million tons, down 12.3% compared to the same period in 2022. Imports of long products fell by 23.4% y/y – to 6.52 million tonnes and flat products – by 7.8% y/y, to 19.38 million tonnes during this period.

The main types of products imported by European consumers in 11 months of 2023 are:

• flat hot-rolled – 10.12 million tons (+12.5% ​​y/y);
• coated flat rolled steel – 5.21 million tons (-19.4% y/y);
• flat cold-rolled products – 1.97 million tons (-5.6% y/y);
• hot-rolled rods and bars in coils – 1.94 million tons (-26% y/y).

In November 2023, steel exports from the European Union increased by 6.4% y/y – to 1.51 million tons. Shipments of long products increased by 17.5% y/y – to 603.24 thousand tons, and flat products by 0.1% y/y – to 902.85 thousand tons. In January-November, the figure decreased by 3.3% y/y – to 15.88 million tons, including 7.4% y/y for flat products – to 9.83 million tons, and 4.2% y/y – for long products, to 6.05 million tons.

The largest exports were of flat products made of other alloy steels with a width of 600 mm or more – 2.76 million tons (-9.5% y/y), and hot-rolled flat products – 2.58 million tons (-8.5% y/y).

As GMK Center reported earlier, in 2023, the European Union countries reduced steel production by 7.4% compared to 2022, to 126.3 million tons. In December, steel production increased by 2.7% y/y – to 9.1 million tons.