Russia - Flat Steel Exports Decline 9% in Jul’18
According to latest release by Russian customs data,flat steel exports which includes (7208- HR coils/Plates,7209 - CR coils, 7210, 7212 GP/GC and 7225 electrical sheets) plunged by 9% on monthly basis in Jul’18 to 0.72 MnT which was 0.79 MnT in previous month.
Similarly on yearly basis nation’s flat steel exports decline by 3% in Jul’18 against 0.74 MnT in Jun’17.
During first seven months of CY18 (Jan-Jul) nation’s flat steel exports stood at 5.2 MnT ,lower by 8% against 5.64 MnT in similar time frame of previous year.
Depreciation of Turkish currency Lira results to decline in nation’s export volumes in Jul’18- Turkey remains major flat steel importer of Russia and had postpone their purchases in the month of Jul’18 owing to devaluation of Turkish currency Lira against USD.Meanwhile European Commission (EU) was likely to announce decision on safeguard measures which resulted to uncertainty in Turkey markets.Thus these reasons lead to decline in nations flat steel export volumes from Russia.
Country-Wise Russia Flat Steel Exports in Jul’18-Turkey was major flat steel importer of Russia and has imported 0.15 MnT of flat steel in Jul’18,lower by 17% against 0.18 MnT in previous month.
Second largest importer was Poland with 0.08 MnT in Jul’18,lower by 60% against 0.05 MnT in Jun’18.
Meanwhile Belarus also imported 0.05 MnT in Jul’18, against 0.06 MnT in Jun’18.
Meanwhile Vietnam imported 0.06 MnT followed by Latvia at 0.06 MnT and Kazakhstan at 0.03 MnT in Jul’18.
source: SteelMint
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