Russian steel consumption in 9 months down by 34pct YoY

Monday, 02 Nov 2009

According to the data issued by the Russian Ministry of Industry and Trade, in January to September this year domestic consumption of rolled steel products decreased by 34%YoY to 18 million tonnes, supplies of Russian origin rolled steel products to the domestic market went down by 34% YoY while deliveries of imported rolled steel products declined by 50%YoY.

During the first nine months of 2009, Russia domestic consumption of steel pipes amounted to 3.8 million tonnes showing a decrease of 37%YoY. Meanwhile, in January to September supplies of Russian origin steel pipes to the domestic market fell by 35%YoY while deliveries of imported steel pipes dropped down by 50%.

According to Ministry of Industry and Trade, the main reasons for the reduction of imports of steel products to Russia during the period in question included the decline of domestic market demand, the increase of import duties on certain rolled steel products and steel pipes from five percent up to a range of 15% to 20% as well as the active efforts of domestic steel producers to strengthen their market positions.

(Sourced from SteelOrbis)
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