Italy imported 7.2 million tons of steel from third countries in 2023

In 2023, Italy reduced imports of rolled steel products from third countries by 3.8% compared to 2022, to 7.17 million tons. This is according to GMK Center’s calculations based on Eurostat data.

Imports of flat products decreased by 3.9% y/y and long products by 3.6% y/y – to 6.35 million tons and 815.3 thousand tons, respectively. Flat products accounted for more than 88% of total steel imports to Italy in 2023.

Hot-rolled flat products accounted for the bulk of imports – 4 million tons (+19.8% y/y), cold-rolled flat products – 501.8 thousand tons (-16.5% y/y) and coated flat products – 1.1 million tons (-18% y/y).

In December, imports of rolled steel products to Italy totaled 153.35 thousand tons, down 41% y/y. Supplies of long products increased by 36.3% y/y – to 43.02 thousand tons, while flat products decreased by 51.7% y/y – to 110.33 thousand tons.

Last year, steel exports from Italy increased by 4.2% compared to 2022 – to 2.03 million tons. In particular, long products increased by 6.8% y/y – to 1.18 million tons, and flat products by 0.7% y/y – to 856.91 thousand tons.

The largest exports were of hot-rolled flat products – 335.32 thousand tons (+24.9% y/y), wire – 264.34 thousand tons (-13.6% y/y), other rods and bars without processing, twisted – 243.11 thousand tons (+33.1% y/y) and coated flat products – 219.35 thousand tons (-8.5% y/y).

In December, Italy exported 141.12 thousand tons of rolled steel, which is 5.1% less compared to December 2022. Exports of long products decreased by 4.7% y/y – to 67.66 thousand tons, and flat products by 5.%% y/y – to 73.45 thousand tons.

As GMK Center reported earlier, in 2023, Italian steelmakers reduced steel production by 2.5% compared to 2022, to 21.06 million tons. The decline in steel production was driven by a decline in global demand for steel products and high energy costs.

Long products production for the year amounted to 11.68 million tons, down 2.9% compared to 2022, and flat products production amounted to 9.54 million tons (-0.1% y/y).

In total, the EU produced 126.3 million tons of steel in 2023, down 7.4% y/y. In December, the EU countries increased steel production by 2.7% compared to December 2022 – up to 9.1 million tons.