Italy in January-May imported 4.6 million tons of steel from third countries

Exports of steel products amounted to 1.32 million tons in 5 months

In January-May 2024, Italy reduced imports of steel products (rolled and semi-finished products) from third countries by 3.2% compared to the same period in 2023 – to 4.59 million tons, according to the Italian Association of Steel Producers Federacciai, SteelOrbis reports.

Imports of long products decreased by 36.7% y/y from 5 months – up to 202 thousand tons, and flat – by 1.6% y/y, up to 2.69 million tons. The supply of steel semi-finished products increased by 6.6% y/y – up to 1.32 million tons. Imports of rebar fell by 72.7%, wire rods – by 23.2%, electrozinced flat rolled products – by 40%, coated rolled products and hot-dip galvanized rolled products – increased by 113.6% and 56.6%, respectively.

Steel exports by Italian steelmakers during this period amounted to 1.33 million tons, which is 6.9% less than in January-May 2023. In particular, long products decreased by 18.5% y/y, and flat products increased by 5.4% y/y, to 268 thousand tons and 370 thousand tons, respectively. Exports of semi-finished products increased by 22.6% y/y, to 114 thousand tons.

A significant increase was experienced in the export of electro-galvanized sheets – by 66.7% y/y, cold-rolled sheets – by 61.5% y/y, and rolls in general – by 40.2% y/y. The largest drop was recorded in the shipbuilding segment – by 60% y/y, tin – by 42.9% y/y, rebar – by 28.6% y/y, and wire rod – by 26.5% y/y.

In 2023, Italy reduced imports of rolled steel from third countries by 3.8% compared to 2022 – to 7.17 million tons, in particular, flat – by 3.9% y/y, and long – by 3.6% y/y, to 6.35 million tons and 815.3 thousand tons, respectively.

Steel exports from Italy last year increased by 4.2% compared to 2022 – up to 2.03 million tons. Shipments of long rolled products increased by 6.8% y/y – to 1.18 million tons, and flat – by 0.7% y/y, to 856.91 thousand tons.

As GMK Center reported earlier, in 2023, steel enterprises of Italy reduced steel production by 2.5% compared to 2022 – to 21.06 million tons. The decline in steel smelting occurred amid reduction in global demand for steel products and high energy costs.

Long products production for the year amounted to 11.68 million tons, which is 2.9% less than in 2022, and flat products – 9.54 million tons (-0.1% y/y).