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Pig Iron November 24, 2017 02:30:37 PM

Russia's Pig Iron Exports Tumbled 72% in August

Paul Ploumis
ScrapMonster Author
The leading export destinations of pig iron from Russia were the US and Turkey. The USA topped the list with imports of 35,104 tons, accounting for nearly one-fourth of the total Russian exports.

Russia's Pig Iron Exports Tumbled 72% in August

SEATTLE (Scrap Monster): According to most recent trade data released by Customs Committee of Russia, the country’s pig iron exports plunged sharply during August 2017. The shipments were down by 72% when matched with the previous year. This is the second consecutive month of decline in exports. The sharp drop in monthly export volumes has dragged the combined exports during Jan-Aug ’17 to a level lower by 20.4% when matched with the exports during the initial eight month period last year.

The Russian pig iron exports totaled 139,191 tons in August this year, significantly down when compared with 502,495 tons exported during August last year. The exports were down sharply when matched with the prior month also. The Russian pig iron exports in July 2017 had totaled 309,411 tons.

The leading export destinations of pig iron from Russia were the US and Turkey. The USA topped the list with imports of 35,104 tons, accounting for nearly one-fourth of the total Russian exports. However, import volumes recorded sharp plunge when compared with 258,973 tons in the previous month. The exports to Turkey totaled 32,601 tons. The other primary importers of Russian pig iron were Taiwan (15,188 tons), Japan (14,906 tons), Poland (9,566 tons), Spain (8,939 tons) and Belarus (8,274 tons).

The combined exports during the first eight months of the year totaled 2.701 million tons. The exports during the period have declined by 20.4% over the previous year. The Russian exports had totaled 3.394 million tons during Jan-Aug ’16. The monthly exports averaged at nearly 338,000 tons. The cumulative exports translated to an annualized 4.05 million tons.

The US emerged as the largest importer of Russian pig iron during Jan-Aug ’17. The country imported 1.760 million tons during this period, accounting for 65.2% share of total exports. The percentage share has climbed higher from 47.4 last year. The US imports increased modestly by 9.4% over the previous year. The country had imported 1.609 million tons during the corresponding eight-month period in 2016.

Turkey received 232,089 tons of pig iron during this period, thereby becoming the second largest export destination. The Turkish imports, which represented nearly 9% share of Russian exports, surged higher by 43% over the previous year. In third position was Spain with imports of 175,985 tons. The other main importers were Italy (114,181 tons), Taiwan (75,229 tons), Belarus (71,324 tons), Poland (63,957 tons) and South Korea (63,400 tons).

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