EUROFER expects decline in EU steel exports in 2013

According to the Economic and Steel Market Outlook 2013-2014/Q2 2013 Report from the Economic Committee of the European Steel Association (EUROFER), in the first quarter of 2013 European Union (EU) steel exports increased by four percent year on year. In the first two months of the current year, semi-finished steel exports improved more than 120 percent year on year over the first two months of last year, whereas the increases in flat and long product exports were around 3.5 percent and 5.5 percent respectively.
 
EUROFER stated that the EU was a net exporter only in terms of long products, with net long steel exports amounting to around 580,000 mt per month over the first two months of this year. Rebar accounted for roughly half of this tonnage. Algeria remained the main country of destination for EU rebar exports.
 
In 2013, EUROFER expects to see a reduction in exports compared with the 2012 level. With domestic production in the key export markets increasing and international competition heating up, every tonnage in the export markets is strongly competed for. The strength of the euro will remain a key factor for EU exporters. Nevertheless, given the expected weakness of the domestic market for constructional long products, the affected producers will continue to look for potential outlets outside the EU.
 
According to EUROFER, total exports are expected to increase in 2014 more or less in line with the expected improvement in global steel demand fundamentals.