Brussels based the European Steel Association EUROFER in latest Economic and steel market outlook 2022-2023 has said that total steel imports, including semis, into the EU rose very modestly by 0.4% YoY over the second quarter of 2022, after an increase 29% in the first quarter. Also imports of finished products increased marginally by 0.6%, following a rise 34% in the first quarter. Imports of flat products dropped by 2.3% after 37% in the first quarter, while import of long continued to rise by 12% after 25% in the first quarter. Over the entire year 2022 YTD, imports of finished products have increased by 9%, as well as imports of flat products by 6% and imports of long products by 18%.In the first half of 2022, the main countries of origin for finished steel imports into the EU market were Turkey, India, South Korea, the Russian Federation and Ukraine. These five countries represented 67% of total EU finished steel imports. Turkey and India continued to be the largest exporters of finished steel products to the EU with a share of 16.9% and 10.1% respectively, followed by South Korea 9.3%, the Russia 7.3% and Ukraine 5.3%. Over the first six months of 2022, imports of finished products from third countries rose overall. In particular, decreases were recorded in imports of finished products from India by 18% and Turkey by 1%. Significant drops were also recorded in imports from Russia of 46% and Ukraine 33%, due to the impact of EU sanctions and war disruptions respectively. By contrast imports from South Korea remarkably rose by 35%.Customs data show that both flat and long product imports increased by 6% and 18%, respectively, over the first six months of 2022. The share of long products out of total finished steel product imports was 23%. Within the flat product market segment over the first six months of 2022 imports of almost all flat products rose compared to the same period of 2021. Imports of cold-rolled sheet recorded the highest increase of 32%, followed by imports of coated sheet at 19% and hot dipped by 14%. By contrast, imports of hot-rolled wide strip moderately fell by 2%. Imports of quarto plate dropped more significantly by 25%. Meanwhile, all long product imports rose in the first six months of 2022. In detail, imports increased particularly for rebars by 37%. More moderate increases were recorded for merchant bars at 13%, wire rod at 11% and heavy sections 9%.
Brussels based the European Steel Association EUROFER in latest Economic and steel market outlook 2022-2023 has said that total steel imports, including semis, into the EU rose very modestly by 0.4% YoY over the second quarter of 2022, after an increase 29% in the first quarter. Also imports of finished products increased marginally by 0.6%, following a rise 34% in the first quarter. Imports of flat products dropped by 2.3% after 37% in the first quarter, while import of long continued to rise by 12% after 25% in the first quarter. Over the entire year 2022 YTD, imports of finished products have increased by 9%, as well as imports of flat products by 6% and imports of long products by 18%.In the first half of 2022, the main countries of origin for finished steel imports into the EU market were Turkey, India, South Korea, the Russian Federation and Ukraine. These five countries represented 67% of total EU finished steel imports. Turkey and India continued to be the largest exporters of finished steel products to the EU with a share of 16.9% and 10.1% respectively, followed by South Korea 9.3%, the Russia 7.3% and Ukraine 5.3%. Over the first six months of 2022, imports of finished products from third countries rose overall. In particular, decreases were recorded in imports of finished products from India by 18% and Turkey by 1%. Significant drops were also recorded in imports from Russia of 46% and Ukraine 33%, due to the impact of EU sanctions and war disruptions respectively. By contrast imports from South Korea remarkably rose by 35%.Customs data show that both flat and long product imports increased by 6% and 18%, respectively, over the first six months of 2022. The share of long products out of total finished steel product imports was 23%. Within the flat product market segment over the first six months of 2022 imports of almost all flat products rose compared to the same period of 2021. Imports of cold-rolled sheet recorded the highest increase of 32%, followed by imports of coated sheet at 19% and hot dipped by 14%. By contrast, imports of hot-rolled wide strip moderately fell by 2%. Imports of quarto plate dropped more significantly by 25%. Meanwhile, all long product imports rose in the first six months of 2022. In detail, imports increased particularly for rebars by 37%. More moderate increases were recorded for merchant bars at 13%, wire rod at 11% and heavy sections 9%.
