Total EU exports of steel products to third countries rose by one percent year on year in 2017, according to the Economic and Steel Market Outlook 2018-2019/Q2 2018 Report from the Economic Committee of the European Steel Association (EUROFER). In particular, total finished steel exports of the EU decreased by three percent, while exports of semi-finished products, which represent only eight percent of total EU exports, grew by 100 percent, both compared with the previous year. Meanwhile, in 2017, EU’s flat product exports rose by five percent year on year and long product exports fell by 14 percent year on year.
EUROFER stated that in the January-February period this year total EU exports of steel products increased by 14 percent compared to the same period of 2017, due to a 30 percent increase in semi-finished product exports and a 13 percent rise in finished steel exports.
As stated in the report by EUROFER, Turkey, the United States, Switzerland, Algeria and Canada were the five main export destinations for EU flat and long product exports in 2017, together accounting for 53 percent of total finished product exports. Algeria partially re-opened its steel market for rebar imports. This allowed EU producers to deliver some volumes in the fourth quarter of 2017. However, total EU rebar exports to Algeria fell by 66 percent year on year last year. The key destinations of exports over the first two months of the current year did not change.