According to the Economic and Steel Market Outlook 2015-2016/Q4 2015 Report from the Economic Committee of the European Steel Association (EUROFER), available data for the third quarter indicate a further acceleration in the year-on-year growth rate of imports to an average of 31 percent for overall finished products; flat product imports rose 32 percent, while longs product imports increased by 29 percent. Over the first nine months of 2015, total finished product imports rose by 18 percent year on year.
EUROFER stated that the three main countries of origin for steel imports to the EU are China, Russia and Ukraine, together accounting for 60 percent of total imports. While Russia and the Ukraine dominate semi-finished steel product imports into the EU with a 75 percent share, and account for a significant share in flat product imports, China has overall the largest share in flat product imports. The volume of finished product imports from China arriving in the EU grew 40 percent year on year over the first nine months of 2015.
EUROFER expects third country imports to rise by almost 10 percent in 2015. Following three consecutive years of relentless growth, the growth of imports is foreseen to moderate in 2016, on the back of the assumption of a globally better adjusted steel demand and supply situation, EUROFER added.