EU

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EU increased imports of ferroalloys from Ukraine by 24.9% y/y in the first half of 2023

In June, supplies of Ukrainian ferroalloys to the EU countries increased by 87% m/m and decreased by 56.2% y/y

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Electricity prices on European markets rose significantly in August

In the EU, there is an ongoing discussion regarding the curtailment of energy support measures by national governments

For 8 months 2023 European governments have announced €8.7 bln for decarbonization of the steel sector

47.6% of total funds (€4.1 bln) may be allocated to ArcelorMittal plants

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EBRD will provide €182 million for the Lviv-Rava-Ruska highway overhaul

Modernization of the highway will improve transport connections between Ukraine and the EU

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Sweden’s Ovako launches a hydrogen plant at its Hofors plant

Thus, the company strengthens Sweden's position in the field of environmental innovation

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Eurozone inflation remained at 5.3% in August

Analysts predicted a slowdown to 5.1%

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EU imported 89.8 thousand tons of scrap from Ukraine in the first half of the year

In June, European importers consumed 13.8 thousand tons of Ukrainian scrap metal

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EU imported 1.34 million tons of direct reduced iron in the first half of the year

The main volume of products was shipped from Russia and Libya – 676.8 thousand tons and 259.2 thousand tons, respectively

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Construction in the European Union fell by 0.6% m/m in June

Compared to May 2022, the figure remained unchanged

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Austrian steel enterprises produced 654 thousand tons of steel in July

According to the results of January-July, the country's metallurgists reduced steel production by 3.4% y/y

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Most EU HRC producers have suspended sales in anticipation of higher prices

The market expects trading to resume in early September, along with rising steel prices

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European Union imported 2.92 million tons of iron and steel products from Russia in January-June

The main share of imports falls on semi-finished products – 62.1% of the total supply

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