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| Russia's August Scrap Exports Down 48.0% To 219,000 Tons |
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Russia's ferrous scrap exports totaled 219,000 tons in August 2009, down 48.0% from a year ago, when they stood at the third lowest level this year after what turned out in July and May, according to Russian customs statistics made available in Tokyo. In January-August 2009, Russia's ferrous scrap exports totaled 1,346,000 tons, down 74.0% from the same period of 2008, translating into an annualized level of 2,020,000 tons. A steep fall in the nation's ferrous scrap exports is believed to have ensued from its export restrictions on ferrous scrap that took effect from April this year. The Russian government, though, has lifted the export restrictions since October 15 after its official notice made October 5. Under the export restrictions, ferrous scrap exports out of the Russian Far East were limited to shipments out of Petropavlovsk-Kamchatski on the Kamchatka Peninsula. As a result, ferrous scrap exports were virtually prohibited as to shipments out of Nakhodka and Vladivostok. With the export restrictions lifted, Russian ferrous scrap exports have become possible for shipments out of provinces such as Primorsky Kray and Sakhalin besides Nakhodka and Vladivostok. Still, South Korea's electric steelmakers are quoted as saying that there was no marked increase as of October 16 in sales offers of Russian ferrous scrap. In this connection, it is unlikely that Russian ferrous scrap exports will indicate rapid growth even after the removal of the export restrictions, some market sources point out. |
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| last modified : Thu 22 Oct, 2009 [10:31] |
