Stainless steel imports grow in Russia in June
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Update time : 2021-07-28 19:13:22
Russia’s stainless steel imports reached around 42,600 tons in June this year, hiking by 6.1% compared to the previous month and also rising by 43.6% from the same month a year ago.
Among them, the imports from China accounted for the largest proportion of 63.1%, followed by India’s 10.9%, Indonesia’s 3.1%, and Ukraine’s 2.8%.
As China announced to cancel export tax rebates on some steel products from May 1, export prices hiked accordingly. Besides, Russia’s traders worried that the stainless steel market will be affected by China's restrictions on steelmaking, so they are putting efforts to replenish inventories.
If China's prices increase, the export prices of the entire Asian region will be driven as well, said USSA.
