According to the ‘Economic and Steel Market Outlook 2012-2013' report released by the European Steel Association (EUROFER), in the third quarter of 2011 EU steel exports decreased by 1.5 percent year on year, after a 10 percent decrease recorded in the second quarter. In the third quarter, EU steel exports increased by five percent compared to the previous quarter.
According to the report, exports increased particularly in September, basically owing to the depreciation of the euro. October saw exports remaining at the level of the previous month.
In the first 11 months of last year, total EU steel exports fell three percent year on year, with flat steel exports decreasing by six percent and long steel exports increasing by seven percent, both compared to the same period of the previous year. On the other hand, in the first 11 months last year EU semi-finished steel exports fell 24 percent year on year.
According to EUROFER, the EU's total export tonnage is estimated to have decreased by 4.9 percent in the whole of 2011. EUROFER expects EU steel exports to increase mildly again in 2012, due to the depreciation of the euro which would be supportive for euro zone exporters to regain their market share abroad.