Eurofer: EU flat product imports increased by 30%

India topped the list of finished steel imports by the EU with a 15.8% share, followed by Türkiye with 12.6% and Vietnam with 10.3%. Imports from China and Korea decreased by 38% and 11% respectively during this period. Imports from Türkiye increased by 85%, from India by 62%, and from Vietnam by 155%.

The highest increases in flat products were recorded for hot rolled strip (51%), hot dip galvanized sheet (44%), and coated sheet (41%). Among long products, only wire rod imports increased by 19%.

EU finished steel exports also increased during the same period.

Flat product exports increased by 2% and long product exports by 5%. The main export destinations include the United Kingdom, the USA, and Türkiye. Exports to the United Arab Emirates increased by 241%, to the USA by 21%, and to China by 13%.

The EU's steel trade deficit in the first four months reached 1.4 million tonnes. This figure was recorded at 1.3 million tonnes in 2023. During this period, the finished steel trade deficit was reported at 775,000  t/m, despite a slight surplus in long products.

Finished steel trade deficits were recorded with India (298,000  t/m), South Korea (218,000  t/m), and Taiwan (193,000 t/m). Trade surpluses were reported with the USA (191,000  t/m), the United Kingdom (104,000  t/m), and Switzerland (76,000  t/m).