According to the report of the Economic Committee of the European Steel Association (EUROFER) "Steel market and economic outlook for 2022-2023/Q3 2022", the total volume of exports of steel products from the EU to third countries decreased in the first six months of this year by 14 percent year on year. year. During this period, the export of flat products from the EU decreased by 11 percent, while the export of long products decreased by 21 percent.
EUROFER reported that Turkey, the UK, the US, Switzerland and China were the EU's biggest steel export destinations in the first half of the year. These five countries together accounted for 58% of all EU exports of finished goods during the period.
During this period, exports of finished goods to Switzerland increased by seven percent, while exports to the United States increased by four percent, while exports to Russia decreased by 54 percent due to the consequences of the war against Ukraine, exports to China and the UK decreased. by 34 percent and 23 percent, respectively, throughout the year. Exports of finished products to India and Egypt fell by 20 percent, while exports to Turkey fell by only five percent year on year.
According to the EUROFER report, in the first half of this year, flat products exports accounted for 68 percent of finished product exports, while long products exports accounted for the remaining 32 percent.
