Russia - Latest news GMK Center

In 7 months of 2022, Russian steel exports to India increased by 4.4 times y/y – up to 149 thousand tons

Steel production in the Russian Federation will decrease by 6–8% y/y in 2022

Russian enterprises redirected volumes to Asia and changed the sales portfolio

The rolling market is undergoing significant changes under the conditions of European sanctions

Ukraine is ready to replace the Russian Federation in the markets of iron ore and other products

Chinese suppliers will pay a duty of 19.7-22.1%, and Russian – 18.7-36.1% for another 5 years

The European Commission expanded the list of restrictions, but postponed their entry into force until 2023-2024

The new package of sanctions provides for restrictions on the import of finished products and semi-finished steel products from the Russian Federation, as well as restrictions on oil prices

Imports of steel semis over the same period reduced by 53.3%

Russian suppliers are gradually occupying the traditional export markets of Ukrainian steel plants

The government made this decision at a meeting on September 27, 2022