EUROFER expects moderate increase in EU steel exports in 2014

According to the Economic and Steel Market Outlook 2014-2015/Q2 2014 Report from the Economic Committee of the European Steel Association (EUROFER), in the first two months of 2014 total EU steel exports fell almost six percent year on year. Flat steel exports decreased by three percent, while long steel exports decreased by four percent, both year on year.
 
EUROFER stated that, taking into account the specific trend in imports, the EU remained a net exporter of steel products over the first two months of 2014.
 
At the product level, rebar, wire rod and beams remained the most exported long steel products. Also with regard to the main countries of destination, there were no significant changes. Algeria remained the main outlet for EU long product exports, whereas Turkey and the US were the key export markets for flat products.
 
According to EUROFER, the outlook for 2014 is for a moderate increase in third country exports in line with the expected mild increase in global steel demand. As EU steel demand strengthens further in 2015, the rise in exports will slow due to the EU mills focusing on the domestic market.