Steel imports continue to grow in the EU - EUROFER

The latest customs data on imports of steel products to the EU 28 from third countries confirm the upward trend that has continued throughout 2014. Imports of finished steel increased 28 percent in Q3 2014 compared to total imports in the previous quarter and 19 percent YoY.

This means that imports of finished steel have increased by 21 percent YTD, while imports of flat products are up 16 percent and long products up 43 percent YoY. Imports of semi-finished goods also rose, rising 35 percent YoY in the first nine months of this year.

At the same time, total bar imports rose 43 percent over the period, and rebar imports rose 83 percent YoY. The main countries supplying flat products are China, Russia and Ukraine. At the same time, Turkey, China and Ukraine are the key exporters of long products. Russia and Ukraine continue to dominate the export of semi-finished products. A further increase in total imports in Q4 will drive 13 percent growth for 2014 as a whole.

Imports are expected to continue to capture a significant portion of the EU steel market in 2015. International competition will remain fierce, especially in the long product segment. Key factors are slowing down demand for steel in construction in China, the Middle East and North Africa, as a result, imports will continue to flood EU markets.