Russia is the third-largest steel exporter globally. Russia exported 30.30 mnt of steel in 2021, up 13% y-o-y against 26.85 mnt in 2020. The European Union is the largest importer of Russia’s steel at 8.83 mnt in 2021, up a sharp 58% y-o-y against 5.60 mnt in the previous calendar. In billets, Russia has a significant 15 mnt overseas exposure globally.
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