According to the Economic and Steel Market Outlook 2017-2018/Q1 2017 Report from the Economic Committee of the European Steel Association (EUROFER), in 2016 EU steel imports increased by around 9.2 percent year on year to the highest annual level since the previous peak in 2007. Total finished steel product imports in 2016 increased 10 percent year on year, with a similar rise in imports of flat products and long products.
EUROFER stated that the three main countries of origin for steel imports to the EU in 2016 were China, Russia and South Korea, together accounting for 51 percent of total imports, while Turkey, Russia, Ukraine and Belarus dominated long product imports into the EU with a 56 percent share.
According to EUROFER, EU producers will remain vulnerable to unfair imports entering the EU market. Elementary problems such as global excess capacity and government subsidization remain a threat for the global steel market balance.