Russia continues to ramp up steel exports

Russia exported 38.4 million tonnes of ferrous products under the HS code heading 72 in January-October, 11.4% up on-year and 29.8% up in monetary value at $119.5 billion, Kallanish understands.

October exports of 3.8mt were -2.4% down on September, having fallen in value -2.3%  to $1.9 billion, Russian federal customs data shows.

January-October exports of semi-finished steel products have risen by 12.1% on-year to 13.15mt, gaining 39% in value, which reached $6.7 billion. October saw 1.9% increase in semis export volumes to 1.25mt, but their value has slipped -1.5% on-month $614.9m.

Exports of flat products in the first ten months of 2018 fell -4.9% on-year to 6.9mt, but rose 11.8% in value to $4.2 billion, while in October they have risen 4% on-month to 729,000t having gained 2.5% in total sales value of $433.2m.

Ten-month pig iron exports increased most once again, by 28.9% on-year to 4.63mt, rising 42.3% in value to $1.73 billion. But October exports have more than halved, having fallen -50.6% on September volumes to 338,200t, also losing -50.8% in value, at $132.6m.

Exports of ferroalloys have increased, but iron ore and coke exports continued to fall in January-October. Exports of ferroalloys have increased by 7.9% on-year to 666,600t, rising 3.3% in value to $1.12 billion, having risen in October by 34.4% on-month to 76,100t and $131.9mn, 42.1% in value.

Meanwhile, iron ore exports have fallen in the 10-month period -13.3% on-year to 15.2mt, having lost -6% in value totalling $1.22 billion. October saw iron ore exports rising 2.8% on-month to 1.92mt, their value remaining broadly unchanged on-month at $146.8m. Coke exports have slipped -9.6% on-year to 2.27mt, but gained 12.6% in value at $568.2m with October exports rising 14.4% on-month to 250,600t gaining 6.5% in value that totalled $56.9m.

Imports of ferrous products into Russia in January-October have increased also by 10.1% on-year to 6.2mt, gaining 12.8% in value that totalled $4.55m. But October total imports have slipped -6.6% to 521,600t, but gained 2.9% in value at $415.6m.