Europe’s steel exports to continue to increase in 2011 and 2012

The latest projections for European Union (EU) steel exports in 2011 and 2012 show that exports will continue to increase, the European Confederation of Iron and Steel Industries (EUROFER) has stated in its short-term steel market outlook report for 2011 and 2012.
 
However, stressed EUROFER, this does not imply that the EU steel trade surplus will rise as well. Due to steel imports increasing faster over this period than exports, the net trade surplus will diminish slightly. A further strengthening of the euro against the US dollar and the negative impact of geopolitical unrest on demand for steel products in North Africa are seen as the main risks jeopardizing business opportunities for EU steel exporters.
 
In 2010 EU steel exports in the final quarter fell 10 percent year on year, with a rise of 5.7 percent in exports over the full year, reaching an average monthly export volume of 2.3 million mt.