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EUROFER - Update on Steel Export from EU in Q1 of 2019

Steel News - Published on Thu, 16 May 2019

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Having fallen by 10% over the whole year 2018, total EU exports of steel products to third countries continued their downward trend over the first two months of 2019. The 7% year-on-year drop over this period was the result of a 34% YoY reduction in semis exports and a 4% fall in finished steel products exports. Underlying figures show that exports of flat products fell by 7% YoY while long product exports rose by 3% YoY.

Exports by country

Over the first two months of 2019, the United States, Turkey and Switzerland remained the largest export destinations for EU finished product exports, followed by Algeria and Mexico. These three countries together accounted for 38% of total EU finished product exports over this period. Exports to the US grew by 35% YoY over the first two months of 2019. However, the volumes shipped by EU producers to the US in January and February 2018 were lower than usual. Compared with the monthly average of export over the whole year 2018, imports over the first two months of 2019 fell by 8%. Meanwhile, exports to Turkey fell by 40% YoY and exports to Switzerland dropped by 6% compared with the same period of 2018.

Exports by product category

Within the product mix of EU steel exports, semis accounted for only 6% of total EU exports over the first two months of 2019 while flat and long finished product exports accounted for the remaining 94% of total exports. Flat product exports accounted for 61% of total exports and long product exports accounted for the remaining 33%. Underlying figures for exports by product group show that over the first two months of 2019 most flat products exports were down compared with the same period of 2018; only exports of organic coated sheet and packaging steel registered a rise in export volumes. With regard to long product exports, both wire rod and rebar export were higher than a year ago, whereas a decline was registered in exports of merchant bars and heavy sections.

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Posted By : Rabi Wangkhem on Thu, 16 May 2019
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