Only hardware exports showed growth – their supplies in January-September increased by 47% year-on-year.
Russia reduced the supply of steel products abroad: from January to September, 14.1 million tons were exported. These numbers are 22% lower than the same period in 2023, they reported Vedomosti.
Exports of steel pipes fell the most during the reporting period – by 41% year-on-year. Supplies of semi-finished products decreased by 24%. In the rental segment, the biggest decrease was recorded in coated products – 49%.
Shipments of hot-rolled steel decreased by 12%, cold-rolled steel by 15%. Only hardware exports showed growth – their supplies in January-September increased by 47% year-on-year.
The sanctions for the war in Ukraine are reflected in the dynamics of export supplies. Exchange rate differences and export duties introduced by the government from October 2023.
The profitability of Russian steel exports is at the level of 12-15%.
We remind you that in Russia a constant high increase in prices has been recorded. The main inflationary factors are staff shortages, budget injections, rapid credit growth and so on.
The Central Bank of the Russian Federation raised the main interest rate by 200 basis points simultaneously – to 21% per annum, which is the highest figure since February 2003.
Source: korrespondent
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