Shipments of steel products from Russia abroad in the first nine months of 2024 amounted to 14.1 million tons

Shipments of steel products from Russia abroad in the first nine months of 2024 amounted to 14.1 million tons (-22% y/y), according to statistics from the industry agency Metals & Mining Intelligence (MMI)
The biggest decline in the reporting period was in exports of steel pipes – by 41% y/y.
Shipments of semi-finished products (billets and slabs) decreased by 24%.
In the rolled products segment, the largest decline was recorded for products with coatings – 49%.
Shipments of hot-rolled rolled products decreased by 12%, cold-rolled – by 15%.
The only product range that showed growth in January – September was hardware – the volume of their exports increased by 47% y/y.
Exchange rate export duties continue to put pressure on the dynamics of export deliveries
As part of the fourth package of sanctions, Brussels banned the import of rolled steel from Russia, as well as reinforcement, welded and seamless pipes. There is a quota regime for Russian metallurgical semi-finished products in the EU.
The deteriorating market situation also reduces the marginality of deliveries abroad. According to the investment company BCS, from the beginning of 2024 to the beginning of November, the export price of hot-rolled steel fell by 6% to $510/t on a FOB basis (“loaded on board”) Black Sea. Steel billets, according to BCS, fell in price by 4% to $470/t, slabs – by 1% to $443/t.
The situation in the sector is also aggravated by a decrease in metal consumption within Russia.