Russia’s stainless output dips in February

Russia’s production of stainless steel decreased in January-February, show national statistical service Rosstat data monitored by Kallanish.

Output amounted to 32,000 tonnes, down by 4.7% on-year. In February alone Russian steelmakers produced 15,500t of stainless steel, less by 9.7% on-year and down 6.4% compared with January.

Russia’s production of stainless steel in 2020 increased by 1.3% on-year to 204,260t.

January output was more by 0.4% on-year to 16,500t, but down 2.2% on-month (see Kallanish passim).

“At the end of 2020, prices for stainless steel rolled products in the domestic market increased significantly,” national special steel association USSA said previously. “This was due to higher demand, reduced stocks, higher prices in the external market and the arrival of more expensive imported products to Russia.”

The share of foreign products in the consumption of stainless cold rolled flat products in Russia is 97% and that of hot rolled flats is about 75%. Higher dependence on foreign products forms the price trend in the domestic market, the association observed.

Svetoslav Abrossimov Bulgaria