Imports decreased by 30.9% y/y

In January-February 2025, the European Union reduced imports of direct reduced iron (DRI) by 30.9% compared to the same period in 2024, to 408.14 thousand tons. This is according to GMK Center’s calculations based on Eurostat data.

The main importers of direct reduced iron among the EU countries in the period under review were Italy, Germany, Austria, and the Netherlands, among others:

• Italy – 263.89 kt (+86.8% y/y);
• Austria – 51.14 thsd tonnes (+2.3% y/y);
• Spain – 37.46 thsd tonnes (+273% y/y);
• Germany – 8.65 thsd tonnes (-95% y/y).

Russia is the largest supplier of DRI to the EU. In January-February, Russian companies shipped 115.45 kt of direct reduced iron to European consumers, down 44.9% y/y.

The main importers of Russian products are Italy – 99.05 thousand tons, down 21.4% y/y, and Spain – 16.4 thousand tons (0 thousand tons in January-February 2024).

Libya shipped 87.88 thsd tonnes of DRI to the EU in 2 months, down 9.7% y/y. Venezuela exported 113.57 thsd tonnes of the product to the EU (+76.4% y/y).

In February, the EU imported 246.79 thsd tonnes of DRI, up 6.5% y/y and 53% m/m.

During the month, Russia exported 65.05 thsd tonnes of raw materials to the EU (+194.3% y/y, +29.1% m/m), Libya – 63.58 thsd tonnes (-16.2% y/y, +161.7% m/m). Venezuela shipped 59.5 thsd tonnes of DRI to the EU (+68.1% y/y, +10% m/m).

Source: GMK Center