According to the Economic and Steel Market Outlook 2022-2023/Q2 2022 Report from the Economic Committee of the European Steel Association (EUROFER), total EU exports of steel products to third countries decreased by one percent year on year in the fourth quarter last year, following a drop of 11 percent in the third quarter. In the fourth quarter, the EU exports of flat products rose by one percent and exports of long products decreased by six percent, while in 2021 the EU exports of flat products fell by three percent and exports of long products remained unchanged, all year on year.
EUROFER said that Turkey, the UK, the US, Switzerland and China were the largest export destinations for EU steel exports in the fourth quarter. These five countries together accounted for 57 percent of total EU finished product exports in the given period.
In the given period, exports of finished products to the US rose by 42 percent, exports to Egypt increased by 15 percent and exports to Turkey rose by 12 percent, while exports to India, China, the UK recorded decreases of 28 percent, 19 percent and 14 percent, respectively, all year on year.
According to the EUROFER report, in the fourth quarter last year flat product exports accounted for 68 percent of finished product exports and long product exports accounted for the remaining 32 percent.
In January this year, the EU’s exports of finished products rose by one percent, while exports of flat products remained unchanged and exports of long products rose by four percent, all year on year.
