According to the Economic and Steel Market Outlook 2012-2013/Q2 2012 Report from the Economic Committee of the European Steel Association (EUROFER), in the fourth quarter of 2011 EU steel imports declined by 12.4 compared to the same period of the previous year.
Total steel imports in 2011 increased by 24 percent year on year due to high import volumes registered in the first half of 2011. With the exception of the last quarter, the EU was a net importer of steel products in 2011.
Regarding import licenses, EUROFER indicated that license applications in the first quarter of 2012 increased compared to the low level registered in the final quarter of last year; however, they are still 35 percent below the average level of the first half of 2011.
For 2012, EUROFER predicts a decrease of 18.5 percent in EU steel imports, while the modest rebound expected for EU steel demand in 2013 will result in imports rising by just below six percent year on year.