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EU Exports in 11 Months Dip by 2% YoY

Steel News - Published on Thu, 06 Feb 2020

Image Source: reutersmedia.net
EUROFER announced that total EU exports of steel products to third countries fell by 2% year-on-year over the first eleven months of 2019. Exports had fallen by 3% year-on-year both over the first and second quarter of 2019, but this downward trend has ended in the third quarter and exports showed no variation compared to one year earlier; customs data from September to November show small monthly fluctuations. Trends at the product group level show that exports of semis, ingots and slabs, have continued to plummet, resulting in a year-on-year drop of 24% over the first eleven months of 2019. Exports of flat products rose by 4% year-on-year whereas long product exports fell by 9% year-on-year.

The main export destinations for EU steel exports over the first eleven months of 2019 were Turkey, the United States and Switzerland, followed by Algeria and Mexico, similar to the pattern in key export destinations seen in previous reports. These five countries together accounted for 51% of total EU finished product exports over this period. Exports of finished products to Algeria rose by 43% year- on-year over the first eleven months of 2019. Equally, exports to Turkey, the largest individual export market, increased by 14%, over the first eleven months of 2019. By contrast, over the same period exports to Switzerland decreased by 8% year-on-year and exports to the United States contracted by 22%.

The share of semi-finished steel products in total EU steel exports was almost 8% over the first eleven months of 2019. Exports of semis registered a decline of 24% year-on-year over this period. Flat product exports accounted for 63% of total exports and long product exports accounted for 30% on average over the first eleven months of 2019.

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Posted By : Rabi Wangkhem on Thu, 06 Feb 2020
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