Russian exports of stainless steel to the Eurasian Economic Union (EAEU) countries decreased in 2024, says national special steel association USSA.

Supplies fell by 3.4% year-on-year to 26,820 tonnes, Kallanish notes. The share of EAEU countries in the total volume of Russian exports amounted to 86%, down from 88.4% in 2023. Russian exports of stainless steel outside the EAEU increased in 2024 to 9,863t, up by 20.1% on-year.

Shipments of cold-rolled flats products increased by 14.5% and billet 41.8%. Exports of stainless hot-rolled flats products fell by 3.6%, welded pipe by 31.4%, rolled products by 1% and seamless pipe by 28.3%. Wire was down 6.8%.

In 2024, Russian companies exported stainless steel products mostly to Belarus and Kazakhstan, whose share amounted to 73.5% and 24.7%, respectively.

Russia’s stainless imports in 2024 decreased by 18.7% on-year to 460,050t. Intake from EAEU countries fell 0.8% to only to 3,730t. The share of EAEU countries in the total volume of Russian exports in 2023 was just 0.8%, and the share of other countries was 99.2%.

Intake of seamless pipe increased by 77.1% and welded pipe by 82.2%. Imports of hot-rolled flats products fell by 56%, cold-rolled flats products by 13% and rolled products by 3%. Billet declined 8% and wire was down 2%.

In 2024, Russian companies imported stainless steel products mostly from Belarus and Kazakhstan, whose share amounted to 44.8% and 44%, respectively. Kyrgyzstan followed with an 11% share.

Russian stainless steel production decreased in February to 22,200t, down 14% on-year (see Kallanish passim). January-February output reached 44,500t, lower by 10.3% y-o-y. Output in 2024 reached 280,000t, down 15.2% on-year.

The stainless steel market in Russia will grow by 1.7% y-o-y in 2025, domestic stainless steelmaker Red October forecasted earlier. 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 300,000t/year of stainless steel.