steel market - Latest news GMK Center

Ukraine, China, South Korea and India account for about 70% of deliveries

Exports of steel products grew by 30.7% y/y over 10 months, while imports fell by 7.2% y/н

Flat products accounted for the majority of sales

In 8 months 2024, the share of imports in apparent consumption was 82%

Surges in imports affect the economies of the organization's member states

Local production fell by 52% in 2013-2023

More than 39.3% or 1.04 million tons are imported

The sector has expectations for stabilization or a slight increase in prices

More than 38% or 927 thousand tons are imported

The main share of imports is iron ore – 44.1 million tons

The industry is likely bracing itself for a challenging finish to 2024 with potential price declines

In 2025, there should be a turning point in the market and revival of consumption