EUROFER: EU steel imports expected to see sharp increase in 2014

According to the Economic and Steel Market Outlook 2014-2015/Q3 2014 Report from the Economic Committee of the European Steel Association (EUROFER), following annual growth of three percent in the first quarter of the current year, steel imports into the EU continued to rise in May and April.
 
Underlying data at the product level signal that, while most flat product imports were on a rising trend in April and May, particularly quarto plate imports continued to rise substantially. Meanwhile, imports of all long products were significantly higher, but the overall rise so far this year is dominated by rebar. This reflects sharply risen imports from Turkey as well as high tonnages from China arriving in the UK
 
EUROFER stated that total imports in 2014 are forecast to increase rather sharply, attracted by improving demand fundamentals in the EU and the relative strength of the euro. EUROFER expects this trend to continue in 2015.