EU

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GDP of the Eurozone in Q3 decreased by 0.1% q/q

The economy of the European Union grew by 0.1% q/q in July-September

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Demand for steel in the EU will decrease by 5.3% y/y in 2023 – EUROFER

In 2024, the indicator will grow by 7.6%, but will face geopolitical unpredictability and economic uncertainty

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Austria increased steel output by 17.4% m/m in September

In January-September, the country's steelmakers reduced steel production by 6.9% y/y

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Inflation in Germany slowed down to 3.8% y/y in October

In September, the inflation rate exceeded 4.5%, and in August and July – 6%

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European Union reduced imports of flat rolled products from Ukraine by 33.4% y/y in January-August

In 8 months, the EU market consumed 486.34 thousand tons of flat rolled products of Ukrainian production

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EU imported 249.6 thousand tons of long rolled products from Ukraine in January-August

Over 8 months, the EU market reduced consumption of Ukrainian-produced long products by 24.9% y/y

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US will continue to suspend tariffs on European steel if necessary

The US is focused on reaching new agreements with the EU, even if it takes additional time

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EU imported 1.8 million tons of direct reduction iron in January-August

The main volume of products was shipped from Russia and Libya – 875.9 thousand tons and 313.8 thousand tons, respectively

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The shutdown of blast furnace capacity in the EU will support prices for flat rolled steel

The reduction in rental supply will encourage consumers to book products for the first quarter

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Gas consumption in the EU decreased by 7.3% y/y in September

The September figure was below the average level of consumption for 2017-2021

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Industrial production in Italy increased by 0.2% m/m in August

During June-August, the indicator increased by 0.4% compared to March-May

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EU increased imports of semi-finished products from Ukraine by 14.6% m/m in August

In January-August, deliveries of Ukrainian semi-finished products to EU countries fell by 18.8% y/y

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