Libya has recorded a notable increase in exports of direct reduction iron (DRI) to the European Union, according to a statistical report by the Ukrainian industry research group, GMK Centre.
From January to August 2024, Libya exported approximately 385,000 tonnes of DRI to the EU, reflecting a 23% year-on-year rise compared to the same period in 2023.
This growth highlights Libya’s expanding role in the EU’s supply chain for high-purity iron. The increase aligns with the broader trend observed in the EU, where total imports of DRI grew by 6% year-on-year to reach 1.91 million tonnes during the first eight months of 2024. Key importers include Italy, Germany, and Belgium.
In August alone, Libya exported 47.5 tonnes of DRI to the EU. This marked an 82.4% year-on-year surge, although it represented a 48.9% drop compared to the previous month. These fluctuations reflect the evolving dynamics of the global iron market and Libya’s efforts to expand its export footprint.
While Russia remains the largest supplier of DRI to the EU, Libya’s increased exports position it as an important regional player in the iron industry. The report underlined the need for diversified supply chains amid geopolitical tensions, making Libya’s growing exports more significant.
The GMK Centre report also noted challenges for other suppliers like Venezuela, which halted DRI exports to the EU in August after shipping significant volumes earlier in the year.
Libya’s performance in the DRI sector underscores the country’s potential to become a reliable long-term supplier to European markets, contributing to both economic stability and trade relations.
