EU - Latest news GMK Center

In 7 months, the EU market reduced the consumption of long rolled products of Ukrainian production by 26.2% y/y

The EC concluded that the merger would not cause competition in the EU market, given the limited capabilities of the company

China has already exhausted 80% of the quota for the import of electrical steel, 84% – for tin products, 50% – for seamless pipes

In January-August, Belgian steelmakers reduced steel production by 9.5% y/y

The initial stage will be crucial to assess the reliability of the mechanism

Restrictions could close foreign markets for scrap traders

Analysts predicted a slowdown to 4.5%

Thus, EU steelmakers will try to balance supply and demand

Compared to July 2022, the indicator increased by 0.9%

The volumes of deliveries of certain steel products before the end of the quota period were exceeded

In July, deliveries of Ukrainian products to the EU amounted to 11.3 thousand tons

European steelmakers are also concerned about the mechanism's impact on exports from the bloc