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Taiwan and South Korea replace Russia and Ukraine in steel supply

Taiwan and South Korea have become the European Union's main steel suppliers for 2022.

Taiwan and South Korea replace Russia and Ukraine in steel supply
The Russian-Ukrainian countries, which accounted for 20 percent of the EU's final steel imports before the conflict, have been replaced by Taiwan and South Korea, becoming the EU's main final steel suppliers. 
In addition to Taiwan and South Korea, Turkey, India and China, which account for 51% of their exports to the EU, are among the European Union's main steel suppliers. 
According to the data, global steel imports decreased by 2.0% to 1.795 billion tons, while global steel demand for 2023 is expected to increase by 0.4% to reach 1.801 billion tons.


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