Author: Paul Ploumis
13 Feb 2015 Last updated at 01:38:46 GMT
BRUSSELS (Scrap Monster): According to latest statistics released by the European Steel Association (EUROFER), the EU steel imports surged significantly during Q3 last year. The imports registered a growth of 13.4% during the quarter when compared with the same quarter a year ago. The imports of semis declined by 15% over the year, whereas finished steel imports saw big jump of 30% during Q3 2014. The flat product and long product imports rose 28% and 34% respectively.
The customs data released for the final quarter of the year indicates that the rising trend in imports have continued in Q4 2014 as well. The finished product imports have climbed higher by 10% during the last quarter of the year. A strong pick up was seen in imports of semis during the month of October and November. The total finished product imports have increased by over 10%. The flat product and long product imports rose 12% and 2% respectively.
Estimates suggest that the EU steel imports are likely to have improved by around 14% during the whole year 2014. The growth in finished steel imports is estimated at 19%. The flat and long product imports growth is estimated around 15% and 33% during the year when compared with 2013. The key exporters of flat products to the region are China, Russia and Ukraine. The main countries of origin for long products are Turkey, China and Ukraine.
The imports are likely to remain at elevated levels in 2015 and 2016, noted EUROFER. The lack of demand rise in emerging economies is feared to push their excess production to international markets. The considerable rise in imports from China creates concerns. However, Russian steelmakers are likely to benefit from the Rouble decline. The steel deliveries from third country exporters to the EU region are projected to rise by 2% in 2015 and 2016.