9.4 C
Belgrade
Supported byspot_img
spot_img

EU Witnesses an 11% Year-on-Year Decline in Iron Ore Imports in 2023

Member of Europium Groupspot_img
Supported byspot_img

In 2023, the European Union reduced imports of iron ore from third countries by 11% compared to 2022, to 72.75 million tons. This is evidenced by GMK Center’s calculations based on Eurostat data.

Imports of iron ore to European consumers have been declining for the second year in a row, with EU steelmakers importing 81.72 million tonnes of ore in 2022, down 12.7% y/y. In 2021, supplies amounted to 93.58 million tons (+20.2% y/y).

In December 2023, the import of iron ore into the EU amounted to 5.06 million tons, which is 0.3% more compared to December 2022, and 9.5% less compared to November.

Supported by

The main suppliers of iron ore to the European Union in 2023 are:

Canada – 21.48 million tons (-2.1% y/y);
Brazil – 18.06 million tons (-11% y/y);
Ukraine – 13.4 million tons (+3.7% y/y).
Last year, Australia reduced supplies of iron ore to the EU market by 71.9% y/y, to 178.15 thousand tons, and Russia – by 88.2% y/y, to 332.27 thousand tons.

The largest consumers of iron ore from third countries are:

The Netherlands – 22.57 million tons (+31% y/y);
Czech Republic – 12.53 million tons (+17.2% y/y);
France – 8.51 million tons (+11.7% y/y);
Belgium – 5.73 million tons (+7.9% y/y);
Slovakia – 5.34 million tons (+7.3% y/y).

There is one steel plant in the Netherlands, Tata Steel Ijmuiden, with a capacity of 7.5 million tons of steel per year, and Liberty Ostrava and Třinecké Železárny in the Czech Republic (3.6 million tons and 2.8 million tons per year, respectively). France has 6 plants with a capacity of over 8 million tons of steel per year, Belgium has four (8.5 million tons per year), and Slovakia has US Steel Kosice (4.5 million tons per year).

As GMK Center reported earlier, global iron ore trade in 2023 increased by 5% compared to 2022 to 1.59 billion tons. The improvement was driven by a slight increase in steel production amid the absence of any clear policy to limit production by the Chinese government.

 

Source: GMK Center

Supported byElevatePR Digital

Related News

Phoenix Tailings pioneers eco-friendly process to recover rare earth metals from mining waste

As the world moves towards cleaner energy solutions, there is an increasing demand for critical metals, particularly rare earth elements, which are essential for...

Huayou Cobalt seeks $2.7 billion in financing for Indonesia battery-nickel project backed by Ford

Zhejiang Huayou Cobalt Co., one of the world’s largest producers of nickel, is in talks with banks to raise approximately $2.7 billion for its...

European fisheries bodies call for deep-sea mining ban over environmental risks

A coalition of European fisheries advisory councils has strongly endorsed a proposed ban on deep-sea mining, raising concerns over the potential environmental and economic...

Serbia’s lithium dilemma: Balancing economic promises with environmental concerns

In the Jadar Valley of western Serbia, Zoran Filipovic, a 55-year-old farmer, faces a dilemma that pits his ancestral land against the growing demand...
Supported by
Supported by
Supported by
error: Content is protected !!