According to Russian customs data,country’s flat steel export under HS code 7208 (HRC),7209 (CRC ) and 7225 (Electrical sheets) have registered an increase of 8% in Aug’16 M-o-M basis. The same stood at 0.82 MnT in Aug’16 against 0.76 MnT in Jul’16. Even on Y-o-Y basis, country’s steel export have registered an increase of 8%.
During first eight months ( from Jan-Aug) of 2016, Russian flat steel exports stood at 5.92 MnT, up by 9.4% against corresponding period of previous year 2015.
Russian steel exporters are able to compete with Chinese material in terms of prices and are exporting steel at competitive prices to various countries including India.
The fall in global crude oil prices led to drastic depreciation of Russian currency, Rouble in past one year, thus encouraging Russian steel makers to export more steel in the overseas market.
However, many countries are imposing trade restrictions on steel exports from Russia. In Aug’16, India imposed anti-dumping duty on HRC,CRC, and Plates import from Russia. Even EU (European Union) has imposed anti-dumping duty on Russian CRC imports.
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