Russia Stainless Steel Imports fell 27.1%
According to Spetsstal’s appraisal, imports of stainless steel to Russia in the first quarter of 2015, if compared to the same period of 2014, fell 21.4% to 44,198 tons.
Imports of stainless steel flats fell 17.2% to 35,100 tons, longs – 50.2% to 3,362 tons, wire – 18.3% to 917 tons, seamless tubes – 23.6% to 1,627 tons, fittings/flanges - 39.3% to 638 tons and slabs/ingots - 64.1% to 382 tons.
Only imports of welded tubes increase by 32.1% to 2,810 tons.
The money value of overall stainless steel imports to Russia decreased 22% to US $ 142.55 million.
The decline in stainless steel imports can be considered as an adequate reaction to the ongoing economic stagnation in Russia. At first glance the results look very frustrating, however, if we consider the market situation before the crisis, all is not that bad. The decline in imports creates a supply deficit that encourages local traders to sell out of stocks that have been piling up since the end of 2014.
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