Italy’s exports and imports diverged in 2024. Shipments abroad sunk to a ten-year low, suffering from weak manufacturing activity, the crisis in Germany’s automotive sector and geopolitical tensions, while intake remained stable, Kallanish notes.
Italian steel shipments fell by 5.7% on-year to 14.9 million tonnes; however, imports remained stable at 18.5mt. As a result, the national steel trade deficit widened from 2.6mt in 2023 to 3.6mt last year.
Imports from the European Union reached 8.4mt, up 3.1% on-year. Germany increased shipments to Italy by about 200,000 tonnes to 2.2mt. Spain delivered 992,000t, while France supplied 1.6mt, a moderate rise. Germany confirmed its position as the top supplier with a 12% share of total imports.
Europe continued to absorb 80% of Italian steel shipped abroad. Declines were recorded for Germany at 2.8mt, France at 1.5mt, Austria at 804,000t and Spain at 798,000t. These reductions were partly offset by higher sales to the Czech Republic at 875,000t and Romania at 676,000t.
Italy’s steel imports from non-EU countries fell to 10.1mt in 2024, down 2.6%. The decline was driven by lower volumes from China, Vietnam, South Korea and Russia, partly offset by a surge in Turkish-origin supply, which rose from 615,000t to 1.2mt, and higher shipments from India.
Exports to non-EU markets fell 8.1% to 3mt, the lowest levels seen in the past two decades. Outbound shipments declined to Switzerland at 550,000t, to Turkey at 355,000t and to the United States at 325,000t. Growth was recorded to Bosnia, Serbia and Canada.
Natalia Capra France
