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Due to safeguard measures taken by the EU, the EU import market of long products is now facing a supply crisis. However, sanctions on Russia and Belarus aggravated the situation and hence the EU wire rod buyers are now paying more and more attention to how to guarantee the material supply, as Ukrainian steel mills also leave the market temporarily.
According to data offered by the European Steel Association (EUROFER), in 2021 Belarus exported around 225,700 tons of wire rods to the EU, while Russia exported roughly 331,000 tons and Ukraine exported around 194,800 tons.
European buyers are now looking for supply substitutes in countries like India, Egypt, and Algeria.
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