EUROFER: EU steel exports rise moderately in Jan-Apr

According to the Economic and Steel Market Outlook 2012-2013/Q3 2012 Report from the Economic Committee of the European Steel Association (EUROFER), in the first four months of 2012 European Union (EU) steel exports increased by 5.2 percent year on year. The EU's steel exports had increased by 13.5 percent in the first two months of the year on year-on-year basis, according to the association's previous Economic and Steel Market Outlook 2012-2013. EUROFER stated that the slowdown in the rise of exports was due to the weakening export volumes in April.

According to the report, in January-April this year the EU remained a net exporter of steel, but lower exports and a rise in imports of finished products in April pushed the EU trade balance into a slight deficit. The trade deficit remained significant in semi-finished steel products, whereas April exports of flat and long products decreased compared with higher volumes exported in the previous months of the year.

In the January-April period, the North African market and especially Algeria remained the key nearby export destinations. In addition, Turkey, the United States and Switzerland continued to be important outlets.

According to EUROFER, the ongoing weak demand conditions in the EU domestic market, particularly for long product producers focusing on construction steels, will result in long product exports remaining at relatively high levels for the time being. The association has predicted a 3.5 percent year-on-year increase in EU steel exports in 2012 and a four percent year-on-year increase in 2013.