Between January and August 2024, the European Union imported approximately 3.9 million metric tons of metallurgical raw materials from Russia, amounting to a total cost of €1.87 billion. These figures, derived from GMK Center's analysis of Eurostat data, highlight the ongoing reliance of EU nations on Russian steel products, particularly amid the backdrop of geopolitical tensions and sanctions.
The bulk of these imports consists of semi-finished steel products. In this period, the EU received 2.14 million metric tons of slabs and billets, with a total value of €1.1 billion. Notably, Belgium emerged as the largest importer, purchasing around 819.4 thousand metric tons, followed by Italy with 467.9 thousand metric tons, Denmark with 344.9 thousand metric tons, and the Czech Republic at 324 thousand metric tons. This demand for semi-finished products underscores the ongoing need for these essential materials in the EU’s manufacturing sector.
Pig iron also accounted for a substantial portion of imports during this time, with 949.07 thousand metric tons entering the EU market. The revenues from these supplies reached €388.03 million. Italy was the primary recipient of pig iron, importing 725.41 thousand metric tons, while Latvia also saw a significant increase in imports, totaling 114.6 thousand metric tons, up 78.4% year-on-year.
In addition to semi-finished products and pig iron, the EU experienced a notable rise in the import of ferroalloys from Russia, which surged by 114.9% compared to the same period in 2023. The total volume of ferroalloys imported reached 63.41 thousand metric tons, with costs amounting to €118.98 million. The Netherlands was a significant player in this market, accounting for over 80% of the imports, with a staggering 51.48 thousand metric tons—an increase of 152.5% year-on-year.
Other categories of steel raw materials also contributed to the EU's import figures. Imports of scrap from Russia totaled 26.19 thousand metric tons, valued at €14.78 million. Additionally, iron ore supplies reached 9.36 thousand metric tons at a cost of €1.33 million. Direct reduced iron imports were notable as well, with 718.83 thousand metric tons entering the EU, valued at €245.7 million.
