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According to the results of January-June 2024, the European Union imported 2,87 million tons of metallurgical raw materials of Russian origin. Costs for import of relevant products reached €1,4 billion.
This is evidenced by GMK Center calculations based on the Eurostat database.
The main volume of imports is semi-finished products. For 6 months of 2024, 1,71 million tons of slabs and blanks were sent to the EU. Expenditures on relevant imports amounted to €886,98 million. The largest consumers of semi-finished products from the Russian Federation are Belgium - 677,51 thousand tons, Italy - 355,32 thousand tons, Denmark - 282,33 thousand tons (+1,7% r ./y.), and the Czech Republic – 230,24 thousand tons (+18,8% y/y).
Large volumes of imports also fall on pig iron - 515,22 thousand tons. The revenue of Russian MMC companies from the supply of pig iron to the EU market amounted to €208,89 thousand. The main volumes are directed to Italy - 371,55 thousand tons, and Latvia - 82,7, 95,9 thousand tons (+XNUMX% y/y).
Deliveries of Russian-made ferroalloys to the European Union market in January-June 2024 increased by 74,3% compared to the same period in 2023 - up to 42,67 thousand tons. Import costs amounted to €93,63 million (+37,7 % y/y). More than 76% of deliveries fell to the Netherlands - 32,58 thousand tons (+99,1% y/y).
The import of scrap from the Russian Federation amounted to 17,38 thousand tons, and procurement costs - €9,21 million. Deliveries of iron ore - 9,36 thousand tons and €1,33 million. At the same time, the import of direct recovery iron during this period reached 579,17 ,198,14 thousand tons for €XNUMX million.
The European Union continues to import significant volumes of metal products from the Russian Federation. Such a trend is predictable, since Russian manufacturers offer products with significant discounts, and most factories are dependent on this. In addition, the sanctions packages have not included, or will not include, a complete ban on such imports for a long time. In the case of slabs, the European Commission decided to relax restrictions and allow imports from Russia to continue. There is a risk that they will try to use this case to remove restrictions on the import of iron from the Russian Federation. At the same time, Ukraine, as a future member of the EU, has every opportunity to replace the products of Russian manufacturers on the European market.
