Italy increased imports of rolled products from third countries by 31.2% y/y in November

The export of steel products for the month decreased by 2.6% y/y

In November 2023, Italy increased imports of rolled steel products from third countries by 31.2% compared to November 2022, up to 400.1 thousand tons. This is based on GMK Center’s calculations based on Eurostat data.

In November, imports of flat products increased by 32% y/y and long products by 26% y/y – to 400.1 thousand tons and 48.2 thousand tons, respectively. Flat products accounted for over 87% of total steel imports to Italy in November.

Hot-rolled flat products accounted for 222.5 thousand tons (-61.2% y/y), cold-rolled flat products – 43 thousand tons (+44.6% y/y) and coated flat products – 40.6 thousand tons (+71.6% y/y).

In January-November, imports of rolled steel products to Italy amounted to 7.02 million tons, down 2.5% compared to the same period in 2022. Imports of long products during this period fell by 5.1% y/y – to 772.24 thousand tons, and flat products by 2.2% y/y – to 6.24 million tons.

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

• flat hot-rolled steel – 3.97 million tons (+24.6% y/y);
• coated flat rolled steel – 1.07 million tons (-18.5% y/y);
• flat cold-rolled steel – 479.4 thousand tons (-18% y/y);
• flat rolled steel from corrosion-resistant steel – 339.3 thousand tons (-55.7% y/y);
• flat rolled products from other alloy steels – 358.42 thousand tons (-23.6% y/y).

Steel exports from Italy in November 2023 decreased by 2.6% y/y – to 153.62 thousand tons. Shipments of long products decreased by 2.7% y/y – to 89.61 thousand tons, and flat products – by 2.3% y/y, to 64.01 thousand tons. In January-November, the figure increased by 4.9% y/y – to 1.89 mln tonnes, including flat grain by 1.3% y/y – to 783.44 thsd tonnes, and long grain – by 7.6% y/y, to 1.11 mln tonnes.

In January-November, Italian steelmakers reduced steel production by 3% compared to the same period in 2022, to 19 million tons. In November, Italy increased its steel production by 1.3% compared to November 2022, to 1.8 million tons.

Flat products production in the country in November 2023 increased by 15.4% y/y – to 848 thousand tons. Long products production amounted to 1.1 million tons, down 0.1% year-on-year.

As GMK Center reported earlier, Italian steelmakers reduced steel production by 11.5% year-on-year – to 21.6 million tons in 2022. Last year, the country’s long products output decreased by 12% y/y – to 12.03 million tons and flat products output decreased by 13.8% y/y – to 9.55 million tons.