According to the Economic and Steel Market Outlook 2014-2015/Q4 2014 Report from the Economic Committee of the European Steel Association (EUROFER), in the second quarter of 2014 total EU steel exports increased by 1.1 percent year on year. Customs data for July and August indicate that total exports fell by on average 1.5 percent year on year, implying that over the first eight months of this year total exports were one percent lower compared to the same period of the previous year.
EUROFER stated that in the January-August period the EU remained a net steel exporter. Rebar, wire rod and beams remained the most exported long steel products, accounting for some 85 percent of total long product exports. The key destination for EU exports of long products remained Algeria, but also Turkey, the US and Switzerland represent relatively important markets for EU steel producers.
The situation with regard to exports is not expected to change during the remainder of 2014. Total EU exports are forecast to stabilize at around the year-earlier level.
According to EUROFER, the outlook for 2015 is for a minor increase in exports to third countries. This reflects an anticipated moderate rise of global steel demand and a continued fight for tonnages in the EU domestic market, forcing EU steel producers to find outlets abroad to compensate for the loss of market share in their home markets.