EU

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EU and the US will continue negotiations on the steel agreement

Currently, the parties are aiming to reach an agreement by the end of the year

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European Union imported 429.2 thousand tons of Russian iron and steel products in August

The main share of imports is semi-finished products – 71.2% of the total volume of supplies

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EU increased imports of iron ore from Ukraine by 36.2% y/y in August

In January-August, European steelmakers reduced the import of Ukrainian iron ore by 10.4% y/y

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The prospects for a steel agreement between the EU and the US remain uncertain

According to the sources, the parties did not reach a breakthrough ahead of the October 20 summit

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Construction in the European Union fell by 0.7% m/m in August

Compared to August 2022, the indicator increased by 0.2%

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EU reached an agreement on the electricity market reform

The reform is designed to make the price of electricity more independent of the cost of gas

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Hot-rolled steel producers in the EU need to limit capacity to stabilize prices

Currently, several European steel mills are already carrying out maintenance

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EU is seeking a permanent solution to Section 232 tariffs

The EU and the US are expected to reach a Global Agreement on Sustainable Steel and Aluminum Production this week

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Industrial production in the Eurozone grew by 0.6% m/m in August

Compared to August 2022, industrial production in the Eurozone fell by 5.1%, in the EU – by 4.4%

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China is concerned about a possible EU anti-subsidy investigation

The country's commerce ministry believes it will disrupt global supply chains

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How sanctions affect the import of Russian steel products to the EU

European producers continue to buy products from the Russian steel industry, since the current sanctions do not ban imports completely

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EU steel producers are pushing for tougher import restrictions

Cheap imported steel products occupy an increasingly large share of the European steel market

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