Russian Finish Long Steel Exports Plunge 28% in July

Russia – world’s 3rd largest ferrous scrap exporter has reported fall in its monthly Finish long steel exports during Jul’18.

As per the customs, the nation has exported about 0.28 MnT Finish Long steel in Jul’18, down by around 28.20% against 0.39 MnT Jun’18.

On contrary yearly comparison, Finish long steel exports were up by 12% to 0.28 MnT in Jul’18 as compared to 0.25 MnT in Jul’18.

Under Finish Long commodities following HS Codes has been considered – Bar & Rod (HS Code 7213 & 7214), MS Wire (HS Code 7217) along with Angle & Shapes (HS Code 7215 & 7216).

Bar’s & Rods have contributed the major export proportionate during Jul’18 and registered at 0.20 MnT (-33.34%) followed by Structure (Angle and Shapes) 0.06 MnT (0%) and remaining Wire Rod 0.02 MnT (-33.34%). The changes are mentioned are compared on monthly basis.

Country wise:

During Jul’18, the largest importer of Russian Finish Long Steel was Kazakhstan – 0.05 MnT, Belarus 0.03 MnT and Lithuania at 0.02 MnT.

Other countries import contribution has fall down by around 56% and registered at 0.08 MnT in Jul’18 against 0.18 MnT.

Updates:

— Billet prices hovering at USD 475-80/MT FOB Black Sea (Size – 125*125).

— As per sources, Russia’s Rebar export offers is about USD 517-520/MT & Wire rod at USD 552-555/MT FOB.

— Russia’s Flat Steel exports plunged by 9% M-o-M in Jul’18 to 0.72 MnT as against 0.79 MnT in Jun’18.