European Union reduced steel exports by 8% y/y in January-May

In January-May 2023, steel companies of the European Union (EU) reduced the export of steel products to third countries by 8% compared to the same period in 2022 – to 7.16 million tons. This is evidenced by Eurostat’s data.

The export of long-rolled goods for January-May 2023 decreased by 4% y/y – to 2.65 million tons, and flat – by 10% y/y, to 4.51 million tons.

Among the long rolled products, the largest export volumes are corners and shaped and special profiles made of non-alloy steel – 830.9 thousand tons (+4% y/y). In second place are other rods and bars made of unalloyed steel without further processing – 469.82 thousand tons, which is 19% more compared to the first half of 2022. Another 461.6 thousand tons of hot-rolled bars and rods made of unalloyed steel were shipped for export by European steelmakers in riots (-19% y/y).

In January-May 2023, the EU exported 1.25 million tons of alloy steel flats with a width of 600 mm or more for export to third countries, which is 11% less year-on-year. Also, 1.17 mln t of non-alloy steel flat products with a width of 600 mm or more (-15% y/y) and 1.16 mln t of clad non-alloy steel flat products with a width of 600 mm or more were exported (-4% y/y).

Among the main consumers of steel products of the European Union in January-May 2023: Great Britain, Turkiye, the USA, Egypt, China, Brazil and India, in particular:

• Great Britain – 1.24 million tons (-2% y/y);
• Turkiye – 1 million tons (-18% y/y);
• USA – 880 thousand tons (-9% y/y);
• Egypt – 225.41 thousand tons (+29% y/y);
• China – 207.1 thousand tons (-29% y/y);
• Brazil – 176.2 thousand tons (-7% y/y);
• India – 119.9 thousand tons (-27% y/y).

The main volumes of long rolled products were delivered to Great Britain – 565 thousand tons (-1% y/y). Another 226.1 thousand tons of such products were consumed by Turkiye (-16% y/y). In addition, British consumers imported from the EU 671.9 thousand tons of flat products (-4% y/y), American consumers – 634.6 thousand t (-8% y/y).

As GMK Center reported earlier, in 2022, the European Union reduced steel exports to third countries by 14% compared to 2021. Shipments of flat rolled products from the EU decreased by 10% year-on-year, and of long products – by 22% year-on-year.