According to the Economic and Steel Market Outlook 2014-2015/Q1 2014 Report from the Economic Committee of the European Steel Association (EUROFER), in 2013 European Union (EU) steel exports decreased by almost 2.5 percent year on year. In the given year, finished steel product exports declined by five percent compared to the previous year.
Meanwhile, EU total net exports amounted to 549,000 mt per month in 2013, 34 percent less than the average monthly trade surplus registered in 2012. This is basically the result of lower net exports of flat finished products.
According to EUROFER, at the product level, rebar, wire rod and beams remained the most commonly exported steel products. Since no major shifts took place with respect to the main countries of destination, Algeria remained the main outlet for EU long product exports, whereas Turkey was the key export market for flat products.
EUROFER stated that the outlook for the 2014-2015 period is for a moderate increase in third country exports in line with the expected increase in global steel demand.