The decrease in total rolled steel imports into the EU in 2022 is due to a 9% y-o-y decrease in the supply of flat rolled products. Imports of long rolled products, on the other hand, increased by 11 per cent y-o-y.
In the fourth quarter of 2022, steel imports to the EU decreased by 33 per cent compared to the same period in 2021. During the reporting period, deliveries of flat-rolled products from third countries to the EU decreased by 42% compared to October-December 2021, while long products increased by 3%.
During this period, the European Union imported most steel from Turkey, South Korea, China, Taiwan and Japan. Together, these countries accounted for 52% of total steel imports into the EU in the fourth quarter of 2022.
In October-December 2022, steel supplies to the EU from Turkey decreased by 40% y-o-y, from India by 72%, from the UK by 14% and from Taiwan by 9%. Imports from Japan increased by 47% y/y, from China by 10.6% y-o-y and from South Korea by 5% y-o-y.
Finished steel imports to the EU in January 2023 were 46% lower than in January 2022. In particular, shipments of flat-rolled products decreased by 53% y-o-y and shipments of graded products by 25% y-o-y.
Steel exports from the EU to third countries decreased by 14 per cent in 2022 compared to the same period last year. Shipments of flat-rolled products from the EU decreased by 10% y-o-y and shipments of long products by 22% y-o-y.
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