The European Union has reported an increase in imports of semi-finished steel products from Russia, while imports of pig iron have significantly decreased. According to data, the EU imported 577,000 tonnes of steel products and ferrous raw materials from Russia in January-February, a 34.6% decrease compared to the previous year. Revenue from these shipments also fell by 33% to $291 million.
Semi-finished products accounted for 82.2% of the total imports, with shipments decreasing by 11% year-on-year to 474,600 tonnes. Belgium was the largest importer, receiving 141,600 tonnes, a 31% decrease from the previous year. Imports of pig iron from Russia dropped by 69% to 78,320 tonnes, with Italy importing 37,660 tonnes, an 82.2% decline.
The EU has implemented several sanctions on Russian steel imports, including a phased ban on billet imports starting in April 2024 and a complete ban on pig iron imports from 2026. Despite these restrictions, the EU continues to allow some imports under specific quotas.
