Russia’s real consumption of stainless steel decreased in the first quarter, according to national special steel association USSA, amounting to 157,560 tonnes, down by 0.7% on-year, Kallanish notes.
Consumption of stainless cold rolled flat steel decreased by 1%, rolled products by 3.1% and seamless pipes by 21.7%. However, hot rolled flat steel was up 1.9%, with welded pipes more by 4.9% and primary billet by 47.1%, USSA says without providing tonnages.
Russian imports of stainless steel in Q1 nevertheless increased by 0.3% on-year to 119,980t and the volume of exports by 69.1% to 3,430t. Domestic production decreased by 0.2% to 41,001t.
The share of foreign products in total apparent consumption of stainless steel in Russia in Q1 increased from 75.3% to 76.1%, while that of domestic products decreased from 24.7% to 23.9%.
The sectors most dependent on imported stainless steel were cold-rolled flat products, where the share of foreign products was 96.2% (in Q1 2024 97.8%), wire 82.5% (77%), hot-rolled flat products 80.5% (77.3%), seamless pipes 63.2% (74.2%) and welded pipes 56.2% (46.7%).
Russia’s real stainless steel consumption typically ranges from 400,000-500,000 tonnes/year.
According to recent Rosstat data, Russian stainless steel production decreased 12.6% month-on-month and 11.2% on-year in June to 20,100t (see Kallanish passim). January-June output amounted to 134,000t, down 10.4% on-year.
Stainless steel market demand in Russia will grow 1.7% on-year in 2025, according to an earlier forecast by Red October.
New market entrant Russian Stainless Co (RNK) aims to launch its stainless cold rolled flat steel mill in the fourth quarter. Planned output in the first stage will be 300,000 t/y of stainless steel.
Source:Kallanish