Imports decreased by 18% y/y

In January-March 2025, the European Union reduced imports of direct reduced iron (DRI) by 18% compared to the same period in 2024, to 587.3 thousand tons. This is a 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 – 351.16 thousand tons (+88.5% y/y);

• Austria – 88.3 thsd tonnes (+26% y/y);

• Spain – 69.86 thsd tonnes (+164% y/y);

• Germany – 8.65 thsd tonnes (-96% y/y).

Russia is the largest supplier of DRI to the EU. In January-March, Russian companies shipped 186.3 kt of direct reduced iron to European consumers, down 26.8% y/y.

The main importers of Russian products are Italy – 143.5 thousand tons, down 16.1% y/y, and Spain – 42.8 thousand tons (0 thousand tons in January-March 2024).

Libya shipped 88.78 thsd tonnes of DRI to the EU in 3 months, down 18% y/y. Venezuela exported 155.49 thsd tonnes of the product to the EU (+141.5% y/y).

In March, the EU imported 179.17 thsd tonnes of DRI, up 42.3% y/y and 27.4% m/m.

During the month, Russia exported 70.85 thsd tonnes of raw materials to the EU (+57.5% y/y, +8.9% m/m), Libya – 0.9 thsd tonnes (-91.8% y/y, -98.6% m/m). Venezuela shipped 41.91 thsd tonnes of DRI to the EU (0 thsd tonnes in March 2024, -29.6% m/m).

As a reminder, in 2024, the EU increased imports of direct reduced iron from third countries by 5.4% compared to 2023, to 2.75 million tons. In 2023, there was a drop of 11.1% y/y. The largest importers of DRI among the EU member states last year were: Italy – 659.73 thsd tonnes (-23.7% y/y), the Netherlands – 527.27 thsd tonnes (+423%), Germany – 438.46 thsd tonnes (-33.5%).

Traditionally, the key suppliers of DRI to the EU in 2024 were Russia, Libya, the USA, Venezuela, and Canada. These countries accounted for about 85% of raw material supplies to the bloc, with Russia accounting for 38%.