
EU steel exports to US fell 29% due to tariffs, and to other countries due to cheap competition
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The European steel industry faces high energy prices and US tariffs.
MOSCOW, October 1 - RIA Novosti. Steel exports from Europe have already fallen by a fifth due to the influence of a number of factors, writes the Financial Times (FT).
“European steel exports fell by a fifth,” the article says.
This is caused by a number of factors. Thus, according to the results of the first half of the year, exports from Europe to the United States decreased by 29% in annual terms due to the introduction by the American government of 50% duties on steel from the EU, the newspaper cites data from the European Steel Association (Eurofer).
However, exports to Turkey, India and China fell by at least 18% due to European producers losing out to cheaper foreign products.
Also, export opportunities are undermined by lower steel production.
"Output is at historic lows as the industry grapples with rising energy prices, U.S. import tariffs and the effects of significant oversupply from China," the article adds.
While overall exports fell 20%, EU crude steel production fell 3% to 126 million tonnes last year and continued to fall 1% in the first five months of the year before rising 1.1% in May, according to data from the European Steel Association (Eurofer).
And according to the latest data from the World Steel Association, its smelting in the European Union in August again began to decline in annual terms.

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EU steel production hits a historic low due to surging energy costs, US tariffs, and Chinese competition, with exports dropping 20% and shrinking capacity.