Posted on 26 May 2022
The Ukrainian-Russian war led to the withdrawal of Ukrainian and Russian supplies from the global market, significantly affecting steelmakers in southern and northern Europe because they rely heavily on Ukraine and Russia for raw materials and slabs. As a result, European hot-rolled coil (HRC) and heavy plate re-rollers began to look for alternative sources of slabs.
EU demand for imported slabs has grown sharply since early March, especially from Asia. Italian coil producers have started buying imported slabs from China, India, Indonesia, Vietnam, and Brazil to compensate for the lack of semi-finished products in Russia and Ukraine.
Source:Yieh
