Italy reduced steel imports from third countries by 7.6% y/y in January-September

Export of steel products increased by 5.5% y/y

In January-September 2023, Italy reduced steel imports from third countries (non-EU countries, excluding Great Britain) by 7.6% compared to the same period in 2022 – to 8.071 million tons. This is evidenced by the data of the Italian association of steel producers Federacciai, informs SteelOrbis.

The export of steel by Italian steelmakers to third countries increased by 5.5% in 9 months of 2023 compared to January-September 2022 – up to 2.46 million tons.

In January-September 2023, the import of rolled products from third countries decreased by 9.4% y/y, flat – by 11.2% year-on-year. In particular, the import of rebars increased by 162.5% y/y over the last 9 months, while wire rod imports decreased by 20.9% compared to January-September 2022.

The consumption of imported rolled steel by Turkish steelmakers increased by 34.1% y/y in this period – up to 240 thousand tons.

Italian exports of rolled products to third countries in January-September increased by 30.4% y/y – up to 600,000 tons, flat – by 1.9% year-on-year, up to 599,000 tons.

As GMK Center reported earlier, the steel enterprises of Italy in October 2023 reduced the volume of steel production increased by 1.4% compared to the previous month – up to 1.93 million tons. Compared to October 2022, this indicator fell by 4.4%. In October 2023, the production of flat rolled products in the country increased by 10.1% year-on-year, while the production of graded products decreased by 1.4% year-on-year.