European Steel Association EUROFER in latest Economic and steel market outlook 2022-2023 said that “Imports were volatile across 2020 and 2021, continuing a trend seen since 2019. After a short period of exceptionally weak demand due to the outbreak of COVID-19, imports surged for some products and showed volatility again over the second half of 2020. The increase became significantly more pronounced during 2021, particularly over the second and third quarter, when very high import levels mirrored the continued improvement in steel demand. Volatility went on over the fourth quarter. Total steel imports, including semis, into the EU rose considerably over the fourth quarter of 2021 by 43% YoY, after 48% in the third quarter), mirroring improved demand across the EU as well as high import penetration. Imports of finished products recorded a surge of 50% after 45% in the third quarter, as well as import of flat was 63% up after +52% in the third quarter and import of long was up 15% after+25% in the third quarter. Over the entire year 2021, imports of finished products rose by 35% YoY, after the 15 times drop recorded in 2020.”In the fourth quarter of 2021, the main countries of origin for finished steel imports into the EU market were Turkey, India, the Russian Federation, South Korea and Ukraine. These five countries represented 51% of total EU finished steel imports. Turkey and India were the largest exporters of finished steel products to the EU with a share of 15.4% and 12.2% respectively, followed by the Russian Federation at 9%, Ukraine at 7.4% and South Korea at 6%.Customs data show that both flat and long product imports increased by 63% and 15% respectively in the fourth quarter of 2021. The share of long products out of total finished steel product imports was 20%. Over the third quarter of 2021 imports of both flat and long products had increased as well by 52% and 25% respectively.Within the flat product market segment, over the fourth quarter of 2021 imports of all flat products rose considerably. Imports of hot dipped increased particularly by 100%, as well as imports of cold-rolled sheet by 84%, coated sheet by 79% and hot-rolled wide strip by 68%. Imports of quarto plate increased more moderately by 10%. Correspondingly, all long product imports rose in the fourth quarter of 2021, with the exception of heavy sections down by 19%. Imports increased particularly for rebars by 39%. More moderate increases were recorded for merchant bars at 15% and wire rod at 10%.
European Steel Association EUROFER in latest Economic and steel market outlook 2022-2023 said that “Imports were volatile across 2020 and 2021, continuing a trend seen since 2019. After a short period of exceptionally weak demand due to the outbreak of COVID-19, imports surged for some products and showed volatility again over the second half of 2020. The increase became significantly more pronounced during 2021, particularly over the second and third quarter, when very high import levels mirrored the continued improvement in steel demand. Volatility went on over the fourth quarter. Total steel imports, including semis, into the EU rose considerably over the fourth quarter of 2021 by 43% YoY, after 48% in the third quarter), mirroring improved demand across the EU as well as high import penetration. Imports of finished products recorded a surge of 50% after 45% in the third quarter, as well as import of flat was 63% up after +52% in the third quarter and import of long was up 15% after+25% in the third quarter. Over the entire year 2021, imports of finished products rose by 35% YoY, after the 15 times drop recorded in 2020.”In the fourth quarter of 2021, the main countries of origin for finished steel imports into the EU market were Turkey, India, the Russian Federation, South Korea and Ukraine. These five countries represented 51% of total EU finished steel imports. Turkey and India were the largest exporters of finished steel products to the EU with a share of 15.4% and 12.2% respectively, followed by the Russian Federation at 9%, Ukraine at 7.4% and South Korea at 6%.Customs data show that both flat and long product imports increased by 63% and 15% respectively in the fourth quarter of 2021. The share of long products out of total finished steel product imports was 20%. Over the third quarter of 2021 imports of both flat and long products had increased as well by 52% and 25% respectively.Within the flat product market segment, over the fourth quarter of 2021 imports of all flat products rose considerably. Imports of hot dipped increased particularly by 100%, as well as imports of cold-rolled sheet by 84%, coated sheet by 79% and hot-rolled wide strip by 68%. Imports of quarto plate increased more moderately by 10%. Correspondingly, all long product imports rose in the fourth quarter of 2021, with the exception of heavy sections down by 19%. Imports increased particularly for rebars by 39%. More moderate increases were recorded for merchant bars at 15% and wire rod at 10%.
