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Metal Recycling News April 09, 2014 03:30:19 AM

Russia's ferrous scrap exports plunged 46% in Jan '14

Paul Ploumis
ScrapMonster Author
The most recent trade statistics released by Russia indicates that the country's ferrous scrap exports during the first month of the year plunged sharply to touch the lowest level since March last year

Russia's ferrous scrap exports plunged 46% in Jan '14

MOSCOW (Scrap Monster): The most recent trade statistics released by Russia indicates that the country’s ferrous scrap exports during the first month of the year plunged sharply to touch the lowest level since March last year. According to trade data, Russia exported 248,000 tonnes of ferrous scrap during January this year. The exports during the month were down 46.3% when compared with the exports during the previous month. However, on year-on-year comparison, the exports during Jan ’14 were up 24.2%.

The largest export destination of Russian ferrous scrap was Turkey. The Russian exports to Turkey totaled 132,000 tons, accounting for more than 50% of the total Russian exports. The Turkish ferrous scrap imports from Russia were up 47% year-on-year.

The second largest export destination was Spain. Russia exported 53,000 tonnes of ferrous scrap to Spain during Jan ’14. The imports by Spain soared 13.7% higher when compared with the exports during the same month a year ago. The Spanish imports accounted for 21% of the total Russian exports.

In third place was South Korea, accounting for nearly 15% of the total Russian exports. The exports to South Korea were up 19.5% over the same month a year ago to touch 37,000 tonnes during January this year.

Turkey, Spain and South Korea together accounted for nearly 90% of the total Russian exports.

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