EU steel imports to decrease in 2012

According to the Economic and Steel Market Outlook 2011-2012/Q4 2011 Report from the Economic Committee of the European Steel Association (EUROFER), in the second quarter of 2011 steel imports to the EU increased by 45 percent compared to the same quarter of the previous year. The share of imports in the EU steel market was 21 percent in the given period.
 
While flat steel imports grew by 51 percent, long steel products recorded a 21 percent increase, both compared to the same period of the previous year. Among long products, decreases in wire rod and rebar imports were balanced by a strong increase in merchant bar imports.
 
Regarding the countries of origin, EUROFER stated that China was a dominant supplier of certain products such as hot dip galvanized sheet and coated sheet, while Turkey increased its flat steel exports to the EU countries.
 
In the third quarter, the EU's steel imports are expected to continue increasing, though at a slower pace compared to the second quarter. Forecasts for the fourth quarter indicate a sideways movement, resulting in a 30 percent growth for total steel imports in 2011.
 
EUROFER expects imports to decrease by around five percent in 2012 due to the weakening growth in demand.