Taiwan was the EU's largest hot-rolled coil (HRC) import source for the second consecutive month in December.
In December Taiwan sold 56,258t of wide HRC into the EU, accounting for almost 20pc of the total 285,140t imported. Just less than half of Taiwan's total, 26,446t, was destined for Belgium, from where material is typically transited into the wider Benelux and Germany.
In the previous month Taiwan accounted for just over 15pc of the import market, at 76,816t. Over 42,000t of this was destined for Belgium.
Taiwan's volume rise coincides with diminished shipments from the largest import sources, which had quota concerns after high customs clearances in October, when quotas reset. Russia, India and Turkey, typically the largest sellers into Europe, accounted for just 3.5pc of import volumes between them in December.
Ukraine and Vietnam were the second and third-largest sellers into the EU in December, shipping 40,858t and 30,869t, respectively.
Over 2021 as a whole, the EU imported a huge 9.27mn t of HRC, the largest figure on record, and up from 5.85mn t the previous year, when the Covid-19 pandemic ravaged demand. Russia was the largest import source, sending almost 2mn t into the EU over 2021, the majority of which came from Severstal, which has a duty advantage on its peers. But this is expected to increase from €17.60/t to around €70-75/t. India was the next-largest import source, at 1.37mn t, closely followed by Turkey at 1.32mn t.
Egypt, which is exempt from the HRC safeguard, sold a record 788,103t into the EU, up from its previous high of 654,885t in 2008.
