Russia's Feb '14 scrap exports drop marginally over the month

MOSCOW (Scrap Monster): The most recent trade statistics released by Russia indicates that the country’s scrap exports during February this year declined marginally over the previous month. According to trade data, Russia exported 245,000 tonnes of scrap during the month. The exports during Feb ‘14 were down 1.5% when compared with the exports during the previous month. However, on year-on-year comparison, the exports during the month were up 12.7%.

The largest export destination of Russian ferrous scrap was Turkey. The Russian exports to Turkey totaled 94,000 tons, accounting for nearly 40% of the total Russian exports. The Turkish scrap imports from Russia were down 24.4% year-on-year.

The second largest export destination was South Korea. Russia exported 50,000 tonnes of scrap to South Korea during Feb ’14. The imports by South Korea soared 17.1% higher when compared with the exports during the same month a year ago. The South Korean imports accounted for 20% of the total Russian exports.

In third place was Spain, accounting for nearly 15% of the total Russian exports. The exports to Spain were up 132% over the same month a year ago to touch 36,000 tonnes during February this year.

Turkey, Spain and South Korea together accounted for nearly 75% of the total Russian exports during Feb ‘14.

Russia ferrous scrap exports totaled 493,000 tonnes during the first two-month period of the year. The scrap exports by Russia jumped by 18.2% when compared with those during the corresponding two-month period in 2013.