EU - Latest news GMK Center

In January-August 2023, European consumers reduced steel imports by 19% y/y

In October, the indicator increased by 2.9% y/y

The economy of the European Union grew by 0.1% q/q in July-September

In 2024, the indicator will grow by 7.6%, but will face geopolitical unpredictability and economic uncertainty

In January-September, the country's steelmakers reduced steel production by 6.9% y/y

In September, the inflation rate exceeded 4.5%, and in August and July – 6%

In 8 months, the EU market consumed 486.34 thousand tons of flat rolled products of Ukrainian production

Over 8 months, the EU market reduced consumption of Ukrainian-produced long products by 24.9% y/y

The US is focused on reaching new agreements with the EU, even if it takes additional time

The main volume of products was shipped from Russia and Libya – 875.9 thousand tons and 313.8 thousand tons, respectively

The reduction in rental supply will encourage consumers to book products for the first quarter

The September figure was below the average level of consumption for 2017-2021