European Union exports of long products increased by 4.1%

Compared to 2022, the European Union increased its long product exports to third countries by 4.1% to 6.49 million tons in 2023.

According to SteelRadar data, 7.53 million tons of long products were exported in 2021, compared to 6.23 million tons in 2022, a decrease of 17.2%, and 6.49 million tons in 2023, an increase of 4.1%. Sources said that the biggest factor in the increase in long product exports is the falling electricity prices, while 85% of the long production facilities in the European Union are electric arc furnaces.

In 2023, the main consumers of long products, which accounted for 50% of the European Union's long product exports, were the US with 739.6 thousand tons, the UK with 1.29 million tons, Switzerland with 926.37 thousand tons, China with 186.8 thousand tons, Egypt with 38.68 thousand tons and Ukraine with 54.2 thousand tons. Exports in 2023 included angles and special profiles with 2.14 million tons, rebar with 1.19 million tons and wire rod with 1.113 million tons.

Sources told SteelRadar that the EU in particular increased its exports by 4.1% compared to the previous year, with the need for steel growing in parallel with the countries' increasing number of housing units.