European Union

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German steelmakers are worried about a possible future scrap shortage

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

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The production of pipes in the European Union in 2022 will grow by 1.9% y/y – EUROFER

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

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US Steel Kosice reduced steel shipments by 13% y/y in 2022

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

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Belgium increased steel production by 28.3% m/m in December 2022

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

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Russia reduced iron ore exports to Europe by 4 times y/y in 2022

The export of concentrate fell by 8.5 times y/y, and pellets – by 3.7 times y/y

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The European Union plans to impose a new package of sanctions on Belarus

Restrictions, in particular, will apply to oil, coal, steel products and gold

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Ukraine increased exports to the European Union by 4.2% y/y in 2022 – Ministry of Economy

During the year, the EU purchased Ukrainian goods worth about $28 billion

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Estonia has imposed a ban on the import of Russian steel and iron

The sanctions came into force on January 9, 2023. Steel products must be returned from the border, abandoned or confiscated

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The economy of the Eurozone will suffer the most from the global recession – OECD

European countries will feel the hardest hit as the Russian war hits business activity and causes a spike in energy prices

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The EU initiates an anti-dumping investigation about bars from Turkiye and China

The investigation was initiated by the Spanish rolling company Laminados Losal

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Italy’s scrap collectors fear financial losses due to the export ban

The ban on the export of scrap from the EU will lead to the loss of jobs and an increase in the stocks of scrap for European companies

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The European Commission has extended anti-dumping duties on the CRC import from the Russian Federation and China

Chinese suppliers will pay a duty of 19.7-22.1%, and Russian – 18.7-36.1% for another 5 years

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