EU

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EU imported 3.36 million tons of steel raw materials from Russia in January-July

The main volume is accounted for by steel semi-finished products, DRI and pig iron

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Ukraine resumed negotiations on joint control at checkpoints with the EU

The issue of security of Ukrainian seaports and sea routes was also discussed

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EU imported 1.69 million tons of DRI in January-July

Imports increased by 4.8% y/y

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Three countries may exhaust their export quota for hot-rolled coils to the EU in October

In July, 39,000 tons of Japanese HRC were withdrawn from customs clearance

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EU steelmakers call for emergency duties on steel imports – Argus

This call is connected with a rapid increase in the import of steel to the EU, in particular hot-rolled coil

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European carbon price could rise to €250/t by 2034 – analysts

This will lead to the gradual abandonment of the free allocation of EU ETS quotas and the reduction of the emission limit

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Construction in the EU increased by 0.2% m/m in July

Compared to July 2023, the indicator fell by 2.4%

Long steel products market in the EU

High energy costs and stagnation in the economy restrain market development

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Industrial production in the EU decreased by 0.1% m/m in July

In the Eurozone, this indicator decreased by 0.3% m/m

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The ECB cut all three key interest rates

The deposit rate was cut by 25 basis points to 3.5%

EU flat steel market in 2010-2023

The share of imports in the domestic consumption of steel during 2021-2023 increased and remains at record levels

EU scrap market balance

The EU steel industry has a huge unrealized potential to increase scrap consumption to meet the goals of reducing carbon emissions and developing a circular economy

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