Germany imported 510 thousand tons of steel from third countries in January-August

In January-August 2024, Germany reduced imports of rolled steel products from third countries by 5.4% compared to the same period in 2023, to 509.68 thousand tons. This is evidenced by GMK Center’s calculations based on Eurostat data.

Imports of flat products decreased by 8.2% y/y over 8 months, while imports of long products decreased by 4.7% y/y – to 101.44 thousand tons and 408.24 thousand tons, respectively. Long products accounted for more than 80% of total steel imports to Germany in January-August 2024.

The bulk of imports came from wire rod – 118.05 thousand tons (+130.5% y/y), rebar – 76.64 thousand tons (-30.3% y/y), and other rods and bars, hollow bars and bars for drilling (HS 7228) – 32.24 thousand tons (-40% y/y).

In August, imports of rolled steel products to Germany amounted to 38.8 thousand tons, down 12.8% y/y. Supplies of long products decreased by 4.5% y/y – to 33.38 thousand tons, and flat products by 39.9% y/y – to 6.42 thousand tons.

Steel exports from Germany increased by 12.3% y/y over 8 months to 2.54 million tons. In particular, exports of long products increased by 10.2% y/y – to 1.03 thousand tons, and flat products by 13.7% y/y – to 1.51 million tons.

The largest exports were of coated flat products – 580.36 thousand tons (+31.4% y/y), flat products of other alloy steels – 341 thousand tons (+17% y/y), and angles, shapes and special sections of non-alloy steel – 329.87 thousand tons (+21.2% y/y).

In August, Germany exported 304.86 thousand tons of rolled steel, up 6.7% compared to August 2023. Exports of long products decreased by 15.4% y/y – to 107.65 thousand tons, while exports of flat products increased by 24.4% y/y – to 197.21 thousand tons.

As GMK Center reported earlier, Germany is among the ten largest steel producers in the world according to World Steel. In 2023, the country decreased steel production by 3.9% year-on-year – to 35.4 million tons, ranking 8th in the global ranking of producing countries.

Imports of rolled steel products decreased by 31.9% last year compared to 2022, to 759.99 thousand tons. Steel exports decreased by 7.8% compared to 2022 – to 3.36 million tons.