European Union reduces February DRI imports by 35.5%

The European Union reduced its imports of direct reduced iron (DRI) by 35.5% in February compared to January 2024, with the product falling to 231.64 thousand tonnes.

Comparing February 2024 data with February 2023 data, DRI imports increased by 3.2%, sources noted. As of 2024, it was observed that the figures reached in the January-February period increased by 35.2% compared to the same period of 2023 and the tonnage increased to 560.5 thousand.

It was reported that the main importers among the European Union countries increased their DRI imports on a yearly basis, while Italy followed a different course from other countries with a 12.9% year-on-year decline and 141.26 thousand tonnes of DRI imports. Germany, on the other hand, recorded a significant annual increase of 117.7% and increased its DRI imports to 173.21 thousand tonnes, while Belgium gained momentum by 5.9% and increased its import level to 50.66 thousand tonnes.

However, the biggest acceleration was seen in Dutch DRI imports, which increased from 14.3 thousand tonnes in January-February 2023 to 122.1 thousand tonnes in the same period of 2024.

Russia, one of the most important DRI suppliers of the European Union, shipped 209.55 tonnes of DRI in January-February 2024, down 20.2% compared to European consumers, sources reported.