Russia’s stainless exports to EAEU decreases

Russia’s exports of stainless steel to Eurasian Economic Union (EAEU) countries decreased in January-October, says national special steel association USSA.

Shipments amounted to 16,230 tonnes, down by 10.2% on-year, Kallanish notes. Almost 2/3 of Russian exports of stainless steel go to the EAEU countries, the association observes.

Russia’s additional export duties meanwhile impact only a part of Russian exports of stainless products because most of them are delivered to EAEU countries, USSA said previously.

Russia’s imports of stainless steel increased in January-October, with the main supplier again being China (see Kallanish passim). Russia’s 10-month stainless intake was up 13.7% on-year to 368,170t.

Russia’s production of stainless steel increased in January-October to 175,200t, up by 3% on-year, USSA says. In October alone, Russian steelmakers produced 17,700t of stainless steel, up by 7.6%.

Stainless production at Russia’s Krasny Oktyabr (Red October) decreased in October to 12,500t, down by 51.2% on-year. Red October managed to maintain its leading position in the production of stainless steel in the first half of 2021. Moreover, it had a 22.4% share in Russian stainless exports, according to USSA.

Earlier this year, TMK announced it will begin the production of stainless flat rolled products. The design capacity of the proposed complex is up to 500,000 t/year. Total investment is over RUB 100 billion ($1.36 billion). The production site will be located in Volzhsky, but the timing of the project has not yet been specified.

Svetoslav Abrossimov Bulgaria