EU Steel Trade

Steel

EU steel exports fell to more than a fifteen-year low of 1.1 Mt in January, down 0.4 Mt year-on-year, Eurofer data show. However, despite declining 2.0 Mt from last year’s high level, EU steel imports reached a three-month high of 2.2 Mt. Imports were less than 0.1 Mt below January 2021. Eurofer stated in its 1q23 outlook that ongoing war-related disruptions, poor demand outlook and severe rises in energy prices and production costs have impacted apparent steel consumption, with the affects expected to last at least until 2q23.