Russia’s Flat Steel Export Drops by 10% M-o-M in Oct’16

According to Russian custom data nation’s flat steel exports have fallen by 10% to 0.63 MnT in Oct’16, M-o-M basis against previous month.The same stood at 0.7 MnT in Sep’16.

HS code 7208 covers HR coils/Plates,7209 covers CR coils and 7225 covers electrical sheets

If yearly comparison is made then country’s flat steel exports rose marginally  by  5% in Oct’16 against 0.6 MnT in Oct’15.

During the time span of Jan-Oct’16 Russia’s Flat steel export stood at 7.25 MnT up by 11% against 6.52 MnT in the same time period of previous year.

However Russia’s flat steel exports are in tough competition with the China in terms of export prices as the Chinese market has become quite uncertain. Hence,overseas buyers are preferring Russian countries with the motive to purchase their inventories in lower prices.