Spain’s steel exports recover in H1, close to 2019 levels

Thursday, 23 September 2021 14:38:00 (GMT+3)   |   Istanbul
       

According to Spanish steelmakers association UNESID, Spanish steel exports in the first half this year are recovering and are already at volumes close to the 2019 levels.

In the January-June period this year, Spain exported almost five million mt of steel, up by 23.4 percent year on year. However, this level is still 1.2 percent below the pre-pandemic levels. In the given period, Spain’s steel exports to Europe increased by 36.7 percent year on year to 3.4 million mt amid the resurgence of European demand and are already 9.1 percent higher than 2019 levels.

In the first half this year, Spain’s main steel export destinations were US and Algeria with 33.2 percent and 71.4 percent increase, respectively, while Spanish steel exports to the UK and Morocco decreased by 16 percent and 13 percent, respectively, all compared to the same period of the previous year. Spain’s steel exports to third countries have stabilized, although they are still 19 percent below the first half of 2019 due to multiple trade measures imposed by these countries.  

In June alone, Spanish steel exports exceeded 927,000 mt, up by 15 percent compared to May and by about 50 percent year on year, despite the difficulties that international trade is facing. The sudden reactivation of export markets has facilitated that, since February, total exports have been above the monthly average of the last three years, even registering in March one of the highest monthly values.

According to UNESID, it is important to promote the competitiveness of the country’s exports to continuously support economic recovery, with measures such as guaranteeing energy costs comparable to Spain’s European competitors. These measures would also improve the country’s economy and industry.


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