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EU hot-rolled coil (HRC) imports increased sharply in May, according to Global Trade Tracker data, with all major suppliers lifting cleared volumes.
Total imports surged by 42pc year on year to 1.1mn t, and were up by nearly 30pc on April. The increase was underpinned by higher arrivals of primarily Asian material, after weak economic conditions in the region prompted sellers to turn their focus to the EU market, where prices were slow to react to tumbling global values.
India was the largest supplier with 174,000t, up by 8.6pc on the month, followed by Vietnam on 161,000t. This was the largest monthly volume on record, with imports up nearly threefold on the month and on the year. Vietnamese mills visited European buyers in the first quarter of this year, prompting new buyers to place trial orders.
China's Taiwan ramped up its supply to the EU too, with 128,000t imported in May, up by 66pc on the month and 39pc on the year. Japan supplied 117,000t and South Korea 92,000t, up by 24pc and 18pc, respectively, on the month.
Closer by, Egyptian imports reached 143,000t, rising by 43pc on April, whereas Turkish HRC supply notably dropped to 33,000t in May, probably as a result of anti-dumping duties, but also in the aftermath of the February earthquake, which saw Turkish production shrink.
EU cold-rolled coil (CRC) imports also rose sharply, to 250,000t in May, up by 38pc on the month and by 18pc on the year. China's Taiwan, India and South Korea were the largest suppliers. Hot-dipped galvanised (HDG) imports, falling under the 4A product category, amounted to 408,000t in May, down by 5.2pc on the month.
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- [Editor:kangmingfei]
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