According to the Economic and Steel Market Outlook 2025-2026/Q1 2025 Report from the Economic Committee of the European Steel Association (EUROFER), total steel imports into the EU, including semis, increased by one percent year on year in the third quarter of 2024. During the same quarter, the EU’s imports of flat steel grew by ten percent year on year, while imports of long steel rose by 18.0 percent and imports of finished steel products moved up by 12.0 percent, both on year-on-year basis.
In the first 11 months, Turkey, India, South Korea, Vietnam, Taiwan, China, Ukraine and Japan were the main countries of origin for finished steel imports into the EU. The first five countries accounted for 57 percent of total EU finished steel imports in the first 11 months. Turkey became the leading exporting country to the EU, with a share of 15.0 percent, followed by India with 12.0 percent, South Korea with 11.0 percent, Vietnam with ten percent, Taiwan with nine percent and China with seven percent.
In the January-November period last year, imports of finished products from Turkey rose significantly by 87.0 percent, while imports from Vietnam, India, Taiwan and South Korea went up by 27.0 percent, 14.0 percent, six percent and four percent, respectively. Imports from Japan and China, on the other hand, decreased by 18.0 percent and ten percent respectively.
According to the EUROFER report, in the given period flat product and long product imports increased by ten percent and eight percent, respectively, compared to the same period last year, and long imports accounted for 21.0 percent of total finished product imports.