EUROFER announces EU steel export data

EUROFER, in its Market Review 2014-2015, provided the following information on steel exports in the European Union. Total exports fell nearly 6 percent YoY in January-February 2014. Tonnage is quite similar to Q4 2013.

Official customs data on EU steel exports to third countries show a 3 percent YoY decline in flat products and 4 percent YoY in bar products. A particularly strong drop in exports is observed for semi-finished products, up 19 percent in annual comparison. Meanwhile, export volumes remained relatively close to those recorded in the last months of 2013.

The main customs data show the superiority of finished steel products exports, where long products dominate. At the product level, rebar, wire rods and beams remain the most exported bar products in the European Union.

There were also no significant changes in relation to the main countries of destination. Algeria remained the main export market for long products to the EU, while Turkey and the United States were key export markets for flat products.

The 2014 forecast for a moderate increase in third country exports is in line with the expected moderate increase in global steel demand. At the same time, the demand for steel in the EU will strengthen further in 2015, and export growth will slow down due to the emphasis from EU factories on the domestic market.