EU

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The green agreement between the US and the EU should affect Chinese steel production

The negotiations are aimed at establishing barriers for products produced with high carbon emissions

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Industrial production in the Eurozone fell by 4.1% m/m in March

Compared to March 2022, industrial production in the Eurozone decreased by 1.4%, in the EU – by 1.3%

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The EC improved the EU GDP growth forecast in 2023 to 1%

EU GDP is expected to grow by 1.7% in 2024

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EU steelmakers are concerned about the future availability of scrap

Demand for raw materials from European steel producers is increasing

EU importers show increased interest in Asian rolled products

Quotas for the import of such products in the second quarter of 2023 have been exhausted by 96%

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The European Parliament supported the continuation of customs duties abolition on Ukrainian products

The liberalization of the trade regime with Ukraine is planned to be extended for another year – until June 5, 2024

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Industrial production in Germany decreased by 3.4% m/m in March

Analysts expected a decrease in the indicator by an average of 1.3%

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The volume of construction in the EU in 2022 increased by 4.8% y/y

EUROFER expects this figure to decrease by 1.6% in 2023

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India is asking the EU to recognize its carbon credit trading scheme

The country strives for the development of the internal carbon market

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The European Union reduced steel imports by 5% y/y in 2022

The supply of flat rolled products to the EU decreased by 9% y/y for the year, and long products – increased by 11% y/y

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The European Union reduced steel exports by 14% y/y in 2022

Shipments of flat rolled products from the EU decreased by 10% y/y, and of long products – by 22% y/y

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Consumption of steel products in the EU in 2022 fell by 7.2% – EUROFER

Apparent steel consumption expected to fall 1% in 2023

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