According to the Economic and Steel Market Outlook 2014-2015/Q4 2014 Report from the Economic Committee of the European Steel Association (EUROFER), EU steel imports rose sharply in the second quarter of 2014.
The latest customs data for EU-28 third country imports confirm that this trend continued into the third quarter. Finished steel imports rose 28 percent year on year in the third quarter. Total steel imports are estimated to have risen by 19 percent year on year.
While total long product imports rose 43 percent in the first nine months, imports of rebar grew 83 percent and merchant bar imports rose by 35 percent year on year. The main countries of origin for EU-28 flat product imports are China, Russia and Ukraine, whereas Turkey, China and Ukraine are the key exporters of long products to the EU-28. Russia and the Ukraine continue to be the main suppliers of semi-finished steel to the region.
EUROFER stated that, with a further increase expected for the fourth quarter, total imports are forecast to increase almost 13 percent in the whole of 2014. Imports are expected to capture again a significant portion of the EU steel market in 2015 as they are foreseen to stabilize at the year-earlier level.