According to the Economic and Steel Market Outlook 2016-2017/Q3 2016 Report from the Economic Committee of the European Steel Association (EUROFER), so far this year steel imports from third countries into the EU continued to rise at a pace which exceeds the rate of improvement in domestic apparent steel consumption. Total imports in the first quarter of the current year grew by 24 percent, with semi-finished product imports rising by 26 percent and finished product imports increasing by 23 percent, all year on year. Customs data for April and May show that finished imports continued to rise, both compared with the same period of 2015 and compared with the previous quarter.
EUROFER said that, with regard to the main countries of origin for steel imports into the EU, China remained the most important exporter to the EU, followed by Russia, Ukraine, South Korea and Turkey. Together these countries accounted for 69 percent of total imports over the January-May period.
According to EUROFER, despite antidumping duties already in place or potential trade cases under investigation by the European Commission, imports have continued to absorb the improvement in domestic steel demand in the EU. This underpins concerns that import distortions will continue to hammer the EU steel sector, EUROFER said.