During this period, Russian enterprises shipped a total of 666.02 thousand tons of DRI to European consumers. However, this volume represents a decrease of 18% compared to the same period last year.
The largest buyer of Russian products in Europe was Italy. In the first seven months of the year, Italy imported 368.01 thousand tons of DRI from Russia, which is 25.8% less than last year. Belgium, which ranked second, imported 105.69 thousand tons of DRI, a year-on-year decrease of 30.8%. The Netherlands came in third with 99.72 thousand tons of imports, showing a remarkable 202.2% increase in DRI imports from Russia.
Increased DRI exports from Libya and Venezuela
Despite Russia's decreasing supply volumes, Libya and Venezuela recorded significant increases in their DRI exports to the EU. Libya shipped 338.44 thousand tons of DRI to Europe in January-July 2024, increasing its volume by 17.6% on an annual basis. Venezuela, on the other hand, exported 182.49 thousand tons of DRI to the EU, representing an increase of 95.1% on the year.
Decrease in July
The EU imported a total of 347.57 thousand tons of DRI in July 2024, representing an increase of 26.6% on a monthly basis and 110.7% on a yearly basis. This was the highest level recorded in import volumes since January 2024. The July import surge also highlighted the increasing share of Venezuela and Libya in the EU market.
In July, Russia exported 86.85 thousand tons of DRI to the EU, an increase of 66% over the previous month, despite a 35.8% decrease on an annual basis. Libya exported 93.01 thousand tons in the same period, increasing by 225.3% on an annual basis and 25.9% on a monthly basis, while Venezuela stood out with 118.12 thousand tons of DRI exports. Venezuela's last delivery at this level was in February 2024.
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