EU

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Spain reduced steel production by 4.2% m/m in November

During January-November, Spanish steelmakers increased steel output by 2.4% y/y

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European Commission initiates investigation into imports of ferroalloys

Imports of certain categories of these products increased from 1.3 million tons in 2020 to 1.6 million tons by mid-2024

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EU imported 2.26 million tons of DRI in January-October

Imports increased by 3.6% y/y

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ArcelorMittal raises prices for hot-rolled steel in Europe to €630/t

Steel demand in Europe grows, while imports are restricted by anti-dumping measures

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Bosnia and Herzegovina and Montenegro ask to postpone CBAM launch

The introduction of this mechanism will complicate the export of electricity to the European Union

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Construction in the EU increased by 0.7% m/m in October

Compared to October 2023, the indicator fell by 0.8%

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EU imported 4.7 million tons of steel raw materials from Russia in January-October

The mian volume is accounted for by semi-finished steel products, direct reduced iron and pig iron

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The European Commission starts reviewing safeguard measures on steel imports

The investigation was launched at the request of 13 member states of the bloc

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Carbon price in the EU will reach €74/t in 2025 – ING forecast

The bank sees a trend of price growth next year, but more modestly than expected

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Industrial production in the EU increased by 0.3% m/m in October

In an annual comparison, this indicator fell by 0.8% m/m

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ArcelorMittal suspends wire rod production in Gijon due to market downturn

The decision was driven by low demand for steel and high volumes of imports from outside the EU

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The ECB downgraded its forecast for eurozone GDP growth in 2024

The forecast for the current year is 0.7%, compared to 0.8% expected in September

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