According to the Economic and Steel Market Outlook 2014-2015/Q2 2014 Report from the Economic Committee of the European Steel Association (EUROFER), European Union (EU) steel imports have shown a rather erratic monthly pattern so far in 2014 with high import levels of semi-finished and finished products in January, rising by 41 percent and 10 percent respectively year on year and somewhat lower tonnages of finished steel imports in February, falling 11 percent year on year.
First indications for March signal that imports probably remained at an overall high level. It is estimated that total imports in the first quarter of the current year were very close to those registered in the same quarter of last year.
EUROFER stated that, within the flat product segment, imports of most products were on a downward trend, the main exception being quarto plate which saw third country import supply rising 29 percent year on year. Meanwhile, all long products registered a marked increase in imports over the January-February period, but particularly so imports of reinforcing bars which rose 70 percent year on year.
According to EUROFER, for 2014 total imports are forecast to increase, attracted by the rise in demand and the strong euro. This trend looks set to continue to in 2015.