Russia’s steel scrap exports turned out to have decreased over the past four months this year, a 29.4 percent year on year slippage to 1,186,660 tons according to the Russian Federation Customs Office. By destination, export to Turkey was down 27.2 percent to 581,350 tons, while those headed Belarus down 62.0 percent to 147,835 tons and shipment headed Korea lowered 9.2 percent to 231,391 tons respectively.
Russia’s scrap export in April was cut 12.1 percent to 435,962 tons a year ago, of which shipment toward Turkey down 29.1 percent to 203,938 tons and to Belarus down 0.4 percent to 52,995 tons. Export of scrap to Korea in April totaled 82,580 tons, however, which increased 6.4 percent year on year growth while those destined for other destinations also increased 30.2 percent respectively.
“Russia’s scrap export continued downside this year on factors combined with overall weak conditions international scrap prices as well as demand contraction in major destinations,” scrap experts commented. Meanwhile, the Russian Government announced recently to implement the scrap export quotas beginning July 1 this year, planning to scale down by at least 50 percent from the export tonnage registered between 2016 and 2018. The quota system will reduce scrap export by 4.0 million tons around, while those heading Far East is estimated to curt by about 40 percent.
Source: Steel&Metal News |
