European Steel Association EUROFER in latest Economic and steel market outlook 2022-2023 said that “In the fourth quarter of 2021 total EU exports of finished steel products to third countries marginally decreased by 11% after. Over the entire year 2021, exports of finished products dropped by 21% compared to 2020, resulting from a decrease of exports of flat products by 31% and no change in exports of long products. In 2020, exports of finished steel products had decreased by 17%.”The main destinations for EU steel exports over the fourth quarter of 2021 were Turkey, the United Kingdom, the United States, Switzerland and China, followed by Egypt, India and the Russian Federation. The first five destinations together accounted for 57% of total EU finished product exports. The most significant increases in EU exports were recorded with the United States up 62%, Egypt {+15%) & Turkey up 12%, while the largest decreases were observed with India down by 28%, China by 19% and the United Kingdom by 16%.Over the fourth quarter of 2021, flat product exports marginally increased by 1%, whereas long product exports decreased by 6%. Over the entire year 2021, exports of flat products dropped by 3% compared to 2020, while exports of long products remained unchanged.Trade balance - In the last quarter of 2021, the EU's total steel product trade deficit amounted to 1.6 million tonnes per month & for finished products, the trade deficit in the fourth quarter of 2021 amounted to 963 kilotonnes. Throughout 2021, the EU's total trade deficit amounted to 1.5 million tonnes. For finished products it amounted to 907 kilotonnes. Flat products recorded a deficit of 923 kilotonnes, whereas long products recorded a surplus of 17 kilotonnes
European Steel Association EUROFER in latest Economic and steel market outlook 2022-2023 said that “In the fourth quarter of 2021 total EU exports of finished steel products to third countries marginally decreased by 11% after. Over the entire year 2021, exports of finished products dropped by 21% compared to 2020, resulting from a decrease of exports of flat products by 31% and no change in exports of long products. In 2020, exports of finished steel products had decreased by 17%.”The main destinations for EU steel exports over the fourth quarter of 2021 were Turkey, the United Kingdom, the United States, Switzerland and China, followed by Egypt, India and the Russian Federation. The first five destinations together accounted for 57% of total EU finished product exports. The most significant increases in EU exports were recorded with the United States up 62%, Egypt {+15%) & Turkey up 12%, while the largest decreases were observed with India down by 28%, China by 19% and the United Kingdom by 16%.Over the fourth quarter of 2021, flat product exports marginally increased by 1%, whereas long product exports decreased by 6%. Over the entire year 2021, exports of flat products dropped by 3% compared to 2020, while exports of long products remained unchanged.Trade balance - In the last quarter of 2021, the EU's total steel product trade deficit amounted to 1.6 million tonnes per month & for finished products, the trade deficit in the fourth quarter of 2021 amounted to 963 kilotonnes. Throughout 2021, the EU's total trade deficit amounted to 1.5 million tonnes. For finished products it amounted to 907 kilotonnes. Flat products recorded a deficit of 923 kilotonnes, whereas long products recorded a surplus of 17 kilotonnes
