EU finished steel imports surge from Korea and China in February
Europe
24 April 2025: In February 2025, European finished steel imports from overseas markets declined by 15.6% year-on-year, to 1.7 million tonnes (Mt), reflecting a high level of uncertainty prevailing in the market ahead of tighter trade measures and slow activity in the end-use sectors.
Nevertheless, EU buyers showed higher demand for finished steel products from some major Asian suppliers. In particular, shipments from South Korea and China jumped by 28.7% and 10.7% over this period, to 303kt and 169kt, respectively, following record-high sales in January 2025 over the past two years. Indonesia recorded a five-fold rise in supplies to the EU, as it shipped 99kt of finished steel in February 2025.
In the meantime, Chinese data shows that deliveries to Europe will remain at high levels as 256kt of finished steel products were exported in March this year against 307kt in February and 277kt in January. Korea's shipments to the EU in March amounted to 268kt, compared to 319kt in February and 291kt in January 2025.
The European Automobile Manufacturers' Association (ACEA) reported a 0.2% drop in new car registrations in March, following a 3.4% decline in February. Construction output in the EU recorded just a 0.3% rise compared to the same period last year.
United Kingdom
UK finished steel imports in February this year jumped by 27.3% year-on-year, to 498kt, following the country’s transition to electric steel making. Deliveries surged from the major European suppliers such as Spain, Germany and others, while Turkish and Vietnamese shipments fell by 33.2% and 63.4%, respectively. That said, supplies from South Korea and China over the same period rose by 16.1% and 5.1%, respectively.
Asia
Total overseas shipments of finished steel products from China in March this year surged by 6.3%, to 10.5Mt, while export value in the US dollar fell by 4.8%. Korean finished steel shipments to overseas markets stood at 2.2Mt last month against 2.3Mt in March 2024.