Russia Increases Iron and Steel Supplies to the EU to Maximum Since June 2022
In May 2024, the volume of Russian iron and steel imported by EU countries reached its maximum since June 2022. Over the month, Russia supplied the EU with these metals and products made from them for €373.1, which is 29% more than in April and 1.2% more year-on-year, according to RIA Novosti calculations. The bulk of supplies were semi-finished products made of iron or non-alloy steel (€175 million), as well as ferroalloys (€81 million).
According to European statistics analyzed by the agency, Italy was the main buyer of Russian metals in May — €120 million (an increase of 1.6 times compared to April). Russian companies increased their exports to the Netherlands the most — €78.5 million (7.3 times).
As a result, by the end of May, Russia became the largest supplier of iron and steel to the EU countries. The second line in the supply rating was taken by South Korea, which increased exports by 30%, to €366.4 million. In third place is India. Supplies from these countries to the EU halved, to €353.8 million. At the same time, European purchases of Russian aluminum also increased. By the end of May, they amounted to €97.8 million (1.5 times). RIA Novosti notes that this is the highest figure since October 2023. Germany increased its aluminum imports from Russia the most significantly, by 11 times, to €16.2 million, Italy by almost four times, to €18.7 million, and Sweden by five times, to €7 million.