Europe's rolled product imports increased in the first half of the year

According to the European steel association Eurofer, in the first half of 2022, imports of finished steel to EU countries increased by 9 percent compared to the same period of the previous year. At the same time, flat product purchases increased by 6% and long product purchases increased by 18%.
In the first quarter, Europe's rolled product imports increased by 34% compared to the first three months of 2021 and increased by 0.6% in the second month. If we consider all kinds of steel products, including semi-finished products, the growth rates were calculated as 29% and 0.4%, respectively.

According to the results of the first half of the year, 67% of the finished steel imports came from five countries, respectively;

Turkey (16.9%),

India (10.1%),

South Korea (9.3%),

Russia (7.3%) and

Ukraine. (5.3%). 

All these countries have reduced their exports to the EU, with the exception of Korea, which increased its steel supply by 35% compared to a year ago, according to the data. Turkey - 1%, India - 18%, Russia - 46% and Ukraine - 33%.

European companies increased their cold rolled steel imports by 32 percent and galvanized steel imports by 14 percent compared to the first half of 2021. At the same time, hot rolled steel purchases decreased by 2% and heavy plate purchases - 25%.

In the long products sector, growth was observed in all main segments. Thus, imports of rebar increased by 37%, high-quality rolled products - by 13%, wire rod - by 11% and large-formed steel imports increased by 9%.