[SMM Iron & Steel] EU’s DRI Imports Plunge 68% in Jan-Feb 2026 Following Expiration of Russian Import Quotas

Published: May 19, 2026 15:12

Save

In the first two months of 2026, European Union steelmakers significantly reduced their imports of direct reduced iron (DRI) by 68% year-on-year to just 130,500 metric tons (mt). The United States stepped up as the largest primary supplier, exporting 66,630 mt (a minor 6% year-on-year decrease), with nearly the entire volume—63,620 mt (+24.4% YoY)—dispatched to Austria. Libya secured the second position, delivering 27,800 mt of DRI exclusively to Spain, although this volume was down 68.4% compared to the prior year. This massive import contraction directly traces back to the total expiration of transitional import quotas for Russian DRI/HBI, which dropped from 1.14 million tons in 2024 to 651,900 tons in 2025, and reached a mandatory 0.00% absolute ban starting January 2026.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

9 hours ago

[SMM Hot-Rolled Arrivals] Mainstream Market Arrivals Declined WoW This Week

9 hours ago

[SMM Analysis] SMM's Interpretation of the "Implementation Measures for Capacity Replacement in the Steel Industry"

On May 18, the Ministry of Industry and Information Technology released the "Implementation Measures for Capacity Replacement in the Steel Industry" (hereinafter referred to as the "Replacement Measures"). SMM conducted a comparative review and analysis of the relevant content...

9 hours ago

10 hours ago

MMi Daily Iron Ore Report (May 19)

Today iron ore futures trended weaker the most-traded contract I2609 closed at 798.5 yuan/mt, down 0.87% from the previous trading session. Port spot prices changed 0-3 yuan from the previous day. Traders showed moderate enthusiasm in offering quotes; steel mills had strong wait-and-see sentiment with few inquiries; overall spot market transactions were sluggish.

10 hours ago