EU Steel Imports in Q2 of 2021 Surge by 44% YoY
EUROFER announced that total imports of finished products surged considerably over the second quarter by 44%, mirroring improved demand across the EU but also to a limited extent due to the comparison to the low levels recorded in the second quarter of 2020. Imports of flat products over the second quarter of 2021 rose by 46%, for the second consecutive quarter, after 1% in the first quarter. Over the entire year 2020, they had fallen by 15% compared to 2019. Imports of long products increased by 34% in the second quarter of 2021, after increasing b4% in the first quarter & falling in the entire year 2020 by 16%
In the second quarter of 2021, the main countries of origin for finished steel imports into the EU market were Turkey, the Russian Federation, South Korea, India and Ukraine. These five countries represented 78% of total EU finished steel imports. The Russian Federation and Turkey were the largest exporters of finished steel products to the EU (with a share of 18.9% each), followed by India (17.9%), Ukraine (7.9%) and South Korea (9.5%).
In the second quarter of 2021, imports of finished products from Russia increased (+38%) and from Turkey (+7%). Over the same period, imports from Ukraine increased at an exceptionally high rate (+106%), whereas imports from South Korea fell (-4%).
Within the flat product market segment, over the second quarter of 2021 imports of all flat products rose considerably. Imports of coated sheet increased (+58%), imports of hot dipped and hot-rolled wide strip (+61%). Imports of cold-rolled sheet rose (+47%), while imports of quarto plate rose more moderately (+15%).
Equally, all long product imports were higher in the second quarter of 2021 compared to one year earlier. Imports of rebars increased by (+48%), imports of wire rod (+39%) and imports of merchant bars (+20%). Imports of heavy sections increased more moderately (+9%)