The European Union has recorded a notable shift in its direct reduced iron import landscape during the first nine months of 2024, with total imports reaching 2.09 million metric tons, representing a 3.1% increase compared to the same period in 2023, according to recent Eurostat data.
Italy maintained its position as the EU's leading DRI importer, though volumes declined 26.4% year-on-year to 513,580 metric tons. Germany followed with 438,450 metric tons, showing a 15.4% decrease, while the Netherlands emerged as a significant player with a substantial increase to 282,320 metric tons from just 66,670 metric tons in the previous year. Belgium and Spain also remained key importers, handling 189,950 and 193,180 metric tons respectively.
Russia, despite facing various international challenges, remained the EU's primary DRI supplier, though shipments decreased 17.4% to 789,600 metric tons. The distribution of Russian imports showed interesting patterns, with Italy receiving 392,010 metric tons (-27.9%), Belgium importing 158,510 metric tons (-22.9%), and Poland showing remarkable growth with 120,090 metric tons, marking a 263.9% increase.
Alternative suppliers have gained prominence, with Libya delivering 400,140 metric tons (+9.3%) and Venezuela significantly increasing its presence with 233,290 metric tons (+82.1%). This diversification reflects the EU's strategic efforts to broaden its supply base and reduce dependency on traditional sources.
September 2024 proved particularly noteworthy, with total EU DRI imports reaching 179,030 metric tons, though this represented decreases both year-on-year (-20.4%) and month-on-month (-17.8%). The month saw significant shifts in supplier dynamics, with Russia exporting 70,770 metric tons (+34% month-on-month), while Libya's exports declined sharply to 14,190 metric tons.
Venezuela's emergence as a major supplier in September 2024 marked a significant development, with the country shipping 50,800 metric tons after having no deliveries in the previous month or September 2023. This development suggests an evolving supply chain strategy among EU importers.
The changing import patterns reflect broader industry trends and geopolitical factors affecting the European steel sector. The variations in volume and supplier mix indicate both market adaptability and the ongoing transformation of traditional supply chains, as the EU continues to navigate complex trade relationships and industrial needs.
