Russian Steelmakers' Exports Dwindle Amidst Shifting Global Dynamics
Synopsis:
Russian steel and pipe product manufacturers experienced a 6% decline in exports via the Russian Railways network in March compared to February, with varying trends across different regions and countries.
Article:
Russian steel and pipe product manufacturers faced a challenging month in March as exports via the Russian Railways network declined by 6% compared to February. According to a source familiar with Russian Railways' activities, the total volume of metal exported in March stood at 1.82 million metric tons, down from 1.94 million metric tons in the previous month.
Despite the overall decline, Russian manufacturers managed to increase their exports to Europe through the PJSC Russian Railways network by 4% month-on-month, reaching 525,000 metric tons in March compared to 504,000 metric tons in February. Excluding Turkey, the figure rose by an impressive 11%, from 222,000 metric tons in February to 246,000 metric tons in March. However, Russian steel exports to Turkey experienced a slight dip, falling from 283,000 metric tons in February to 279,000 metric tons in March.
One of the most significant drops in exports was observed in shipments to China and Taiwan, which plummeted by 27% month-on-month. In March, Russian manufacturers exported only 156,000 metric tons of steel to these countries, a sharp decline from the 213,000 metric tons shipped in February.
On a more positive note, Russian producers saw a marginal increase in metal exports to Mexico via the Russian Railways network, with the volume rising from 450,000 metric tons in February to 453,000 metric tons in March.
Exports to the Commonwealth of Independent States (CIS) countries also experienced a slight decline of 2% month-on-month, with manufacturers shipping 547,000 metric tons of metal in March compared to 559,000 metric tons in February.
The Asia-Pacific region, excluding China and Taiwan, witnessed a significant drop in metal shipments from Russian manufacturers. In March, exports to these countries fell to just 25,000 metric tons, a 50% decrease from the 50,000 metric tons shipped in February. Similarly, exports to the Middle East and Africa also declined, falling from 155,000 metric tons in February to 110,000 metric tons in March.
In contrast to the overall decline in steel and pipe product exports, Russian exports of iron ore and concentrate experienced an upward trend, rising from 1.04 million metric tons in February to 1.1 million metric tons in March. China remained the primary destination for these exports, receiving 820,000 metric tons in March, albeit a slight decrease from the 879,000 metric tons shipped in February.
Conclusion:
The month of March presented a mixed picture for Russian steel and pipe product manufacturers, with overall exports declining by 6% compared to February. While some regions, such as Europe, saw an increase in exports, others, like China and Taiwan, experienced significant drops. The varying trends across different countries and regions highlight the complex and ever-shifting dynamics of the global steel market.
Source: STEELGURU
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