Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Russia’s total stainless steel (SS) imports in January 2021 declined by 25.7pc to 26,490mt from the prior month, according to data provided by Russia’s SpetsStal association.

The country’s cold-rolled stainless steel product imports in January fell by 19.8pc, while hot-rolled stainless steel products declined by 16.7pc.

Long stainless steel products in January dropped by 40.7pc, while electric welded stainless steel pipe imports decreased by 56.3pc in the same month.

In January 2021, stainless steel wire imports fell by 35.2pc, while imports of stainless steel seamless pipes declined by 30.4pc during the same period.

Of total stainless steel imports, the only product which showed growth was primary stainless steel which grew by 42.5pc. Most of the primary stainless steel was imported from the United Kingdom (UK) and Belgium.

The association said that Russia’s stainless steel imports were affected by the shortage of containers and an increase in the cost of transportation.

SpetsStal also added that given the decline in imports of stainless steel products in Russia, a decrease in the supply of products will lead to a further increase in prices in the domestic market.  

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