Russia Stainless Steel Imports fell 37.1%

According to Spetsstal’s appraisal, imports of stainless steel to Russia in the first quarter of 2009, if compared to the same period of 2008, fell 37.1% to 22,988 tons. Imports of stainless steel flats fell 36%, longs – 58.7%, wire – 46.7%, seamless tubes – 53% and welded tubes 17.2%. Only imports of primaries such as slabs/ingots/forged pieces demonstrated an increase by 32.1%.

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The money value of overall stainless steel imports to Russia decreased 36.9% to 86.2 millions dollars.

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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 2008.

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Not all traders will manage to stay afloat in the crisis time. Many will have to leave or suspend their activities till better times.

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Find out all the latest results of stainless steel imports, exports, consumption, prices by ordering an English-language version of the Annual Edition of the Russian Stainless Steel Bulletin. Details can be found here.

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Russia Stainless Steel Imports fell 37.1%

Participants of SpetsSteel Association