EU imports, exports fall, trade balance stable

During the first eight months of 2023, the trade balance for steel in Europe remained stable compared with the overall figures registered in 2022. Imports and exports each decreased, maintaining the tonnage differential, Kallanish notes.

According to Eurofer data, January-August trade balance for all steel products – finished plus semis – stood at negative 1.6 million tonnes per month on average, in line with the figure registered during 2022. In 2021, the trade balance was negative 1.5m t/m.

Total eight-month exports declined by 5% year-on-year, with flat products falling 11% while long products actually recovered 3%.

Imports declined by almost 20% y-o-y during the same period. Flats and longs imports fell 17% and 24% respectively.

Despite falling in general terms, imports of finished products into Europe maintained a record-level market share of 28%. They continued to be mentioned by the steelmakers’ association as a major factor impacting the market.

Emanuele Norsa Italy