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Steel import license applications into EU-27 collapse in April |
| WRITER |
administrator |
DATE |
2009-05-18 09:15:04 |
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Steel import license applications into EU-27 collapse in April
17, May. 2009
According to data from the European Commission obtained by Platts, total applications for licenses to import steel products in the EU-27 fell to just 1.185 million tonnes in April down by 22% MoM on March and 56% YoY in April 2008,
The data said that international steel trade has slowed dramatically since global demand collapsed in autumn 2008. The data appears to reflect the fact that European steel buyers are still proactively destocking and, for their small restocking needs, tend to prefer local suppliers than imports.
It said that the largest applicant for steel imports into Europe was Turkey, with 154,000 tonne applied for despite a 9% MoM decrease. Ukraine and Russia were next, with 142,000 tonne and 135,000 tonne, respectively. China, a common target of antidumping initiatives from Europe, only applied to export 104,000 tonne of steel products to the EU-27, compared with 360,000 tonne in April 2008.
Egypt was the second-largest applicant for HRC imports into Europe behind Russia with 43,000 tonnes applied for. Russia applied for 52,000 tonne. Egyptian applications jumped by 228% month on month. Total HRC import license applications covered 215,000 tonne 46% less than in March and 54% less than in April 2008.
In contrast Chinese HRC applications fell 57% on the month to just 14,000 tonne. India also massively cut its HRC applications down to just 2,000 tonne in April. This compares with 75,000 tonnes in April 2008.
Turkey applied for 31,000 tonne of CRC imports into Europe in April, almost a third of the 102,000 tonne total. Since the start of 2009, Turkey has consistently applied for 26,000 tonne to 36,000 tonne of CRC exports to Europe monthly.
Resourced from Platts |
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