According to the Economic and Steel Market Outlook 2013-2014/Q3 2013 Report from the Economic Committee of the European Steel Association (EUROFER), in the first quarter of 2013 European Union (EU) steel exports increased by 11 percent year on year. Finished steel product exports hardly increased compared to the same period of the previous year, while semi-finished product exports rose significantly. Available data and first estimates for the second quarter indicate a slight further rise in export volumes, but a sharp moderation in the year-on-year growth.
As in the recent past, Algeria remained the most important outlet for EU steel exports in the second quarter, not only for rebar but also for merchant bar and wire rod. The other main countries of destination were Switzerland, Morocco and Turkey.
EUROFER stated that in the second half of 2013 exports are expected to remain at a level which will be relatively close to the first half volume; this implies a modest reduction compared to the first half of 2012 and will result in a rise of approximately two percent in total exports over the whole of 2013.
According to EUROFER, in 2014 total exports are expected to increase moderately, reflecting an expected rebound in global steel demand.