EU - Latest news GMK Center

This call is connected with a rapid increase in the import of steel to the EU, in particular hot-rolled coil

This will lead to the gradual abandonment of the free allocation of EU ETS quotas and the reduction of the emission limit

Compared to July 2023, the indicator fell by 2.4%

High energy costs and stagnation in the economy restrain market development

In the Eurozone, this indicator decreased by 0.3% m/m

The deposit rate was cut by 25 basis points to 3.5%

The share of imports in the domestic consumption of steel during 2021-2023 increased and remains at record levels

The EU steel industry has a huge unrealized potential to increase scrap consumption to meet the goals of reducing carbon emissions and developing a circular economy

Recent developments in the industry and supply chains are signs of a steady deterioration

The main volume is accounted for by steel semi-finished products, DRI and pig iron

The quota for the current year is 1.14 million tons, and its volumes have been exhausted with an expected surplus at the level of 2.2 thousand tons

The results coincided with analysts' expectations