EU

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The absence of steel agreement between the US and the EU may bring back duties on $10 billion

The parties aim to reach an agreement by October 31, 2023

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Japan’s industry groups criticize CBAM reporting

Industrialists are concerned that this could lead to the disclosure of confidential information

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European slab market: who replaced the shares of Ukraine and Russia?

European consumers are preparing for the entry into force of sanctions on slabs and are looking for alternative suppliers

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Eurozone inflation slowed to 5.3% in July

The indicator reached its lowest level since January 2022

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Austria reduced steel production by 4% y/y in the first half of 2023

In June, Austrian steel companies increased steel output by 2.7% y/y, but decreased it by 1.8% m/m

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Eurozone GDP grew by 0.3% q/q in Q2

The economy of the European Union in April-June did not change compared to the first quarter of 2023

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ArcelorMittal Europe reduced steel output by 13.1% y/y in the first half of 2023

During this period, steel shipments decreased by 7.8% y/y

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The deficit of foreign steel trade in the EU increased at the beginning of the year

In the first quarter, it amounted to 1.1 million tons per month, compared with 864 thousand tons in the previous quarter

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The volume of construction in the EU will decrease by 0.5% in 2023 – EUROFER

In 2024, the volume of construction will recover to 0.7%

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What to expect in the EU square billet market: the role of Ukraine and Turkiye

Ukraine provided 51% of European imports of square billets in January-April 2023

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Exhaustion of import quotas for HRC in the EU will promote demand for local products

The market believes that European producers may try to raise prices

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EUROFEER has downgraded the forecast for a fall in steel demand in the EU to 3% in 2023

The main drivers of negative expectations are high energy prices, increased production costs and the war in Ukraine

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