European Union

More than 90% of steel in the EU is produced in countries with cheaper electricity than Ukraine

Up to 70% of total funds (€7.0 bln) released by Germany

Some changes in EU ETS led to unobvious consequences

In January-March, steel production increased by 0.3% y/y

In January-March, Belgian steelmakers reduced steel production by 4.7% y/y

In January-March 2023, the company increased the shipment of rolled steel to customers by 7% q/q

In January-February 2023, Belgian steelmakers reduced steel production by 1.3% y/y

In 2023, Ukraine and the EU will conduct complex negotiations on relations at the level of industry steel associations and producers

A shortage of scrap could hamper the steel industry's ambitions for decarbonisation

According to the association's forecasts, in 2023 the production of pipes in the EU will decrease by 1.9% y/y

In 2023, steel deliveries to customers are expected to grow by 1-20%

In 2022, Belgian steelmakers increased steel production by 0.4% y/y