Due to the safeguard measures taken by the EU, the EU long product import market is currently facing a supply crisis. However, the sanctions imposed on Russia and Belarus have made the situation worse, and therefore, EU wire rod buyers are paying more and more attention to how to ensure material supply, as Ukrainian steelmakers are also temporarily leaving the market.
According to data presented by the European Steel Association (EUROFER), in 2021 Belarus exported about 225,700 tons of wire rod to the EU, while Russia exported about 331,000 tons and Ukraine about 194,800 tons.
European buyers are now looking for supply substitutes in countries such as India, Egypt and Algeria.
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