The EU reduced DRI imports by 25% y/y 11 months

In January-November 2025, the European Union reduced its imports of direct reduced iron (DRI) by 24.7% y-o-y – to 1.9 million tons. Despite the overall decline, the structure of imports underwent significant changes, indicating a reorientation of supply chains. This is evidenced by GMK Center calculations based on Eurostat data.

Venezuela became the main supplier of DRI to the European Union during the reporting period, exporting 594.85 thousand tons of products, doubling its supplies y-o-y. The dynamics in this direction show a steady increase in volumes: in 2023, the EU imported 133 thousand tons of Venezuelan DRI, and in 2024, 293.98 thousand tons. This significant growth confirms a change in the geography of imports against the backdrop of a reduction in supplies from traditional sources.

Russia, which was previously the main supplier of DRI to the EU, significantly reduced its exports. In January-November, Russian companies shipped 584,650 tons of products, which is 41.2% less y/y. The main importers of Russian DRI remained Italy (312.14 thousand tons, down 36% year-on-year) and Belgium (135.27 thousand tons, down 34.7% year-on-year). Poland and Spain imported 55 thousand tons (-64.3% y-o-y) and 82.2 thousand tons (-26.6% y-o-y), respectively.

Among other suppliers, the US sent 362.31 thousand tons of DRI to the EU, increasing volumes by 11.8% y/y. Libya reduced exports to 223 thousand tons (-47.3% y/y).

The main importers of direct reduced iron to the EU in the first 11 months of 2025 were Italy – 821.12 thousand tons (+24.5% y/y), Austria – 341.58 thousand tons (+42.4% y-o-y), and Spain – 229.29 thousand tons (-5.3% y-o-y).

The resumption of supplies to these countries partially offset the sharp decline in imports from Germany and the Netherlands. Germany reduced its purchases from 438.45 thousand tons in January-November 2024 to 28.12 thousand tons in 2025, and the Netherlands – from 392.4 thousand tons to 145.03 thousand tons.

In November, the EU imported 181.42 thousand tons of DRI, which is 32.7% less y/y and 2.1% more m/m. Venezuela supplied 32.72 thousand tons (+20.7% y-o-y; -20.7% m-o-m) during the month, while the US supplied 29.37 thousand tons (-44% y-o-y; -17% m-o-m). Russia shipped 58.7 thousand tons (-44.1% y-o-y; +14.5% m-o-m), Libya – 29.57 thousand tons (did not supply in November 2024; +212% m-o-m).

It should be noted that in 2024, the EU increased its imports of direct reduced iron from third countries by 5.4% compared to 2023, to 2.75 million tons. In 2023, there was an 11.1% y/y decline. The largest importers of DRI among EU member states last year were Italy – 659.73 thousand tons (-23.7% y/y), the Netherlands – 527.27 thousand tons (+423%), and Germany – 438.46 thousand tons (-33.5%).