Mexico accounted for the largest share of Russia's exports with 22,5 percent, followed by Türkiye at 16,1 percent. 16.1% of this products exported to Türkiye as 972,257 tons of slab, 1,610,065 tons of billet and bloom.
Due to demand from countries that did not impose sanctions and the fact that imports of semi-finished steel products from Russia were not prohibited in the EU, exports remained high despite these restrictions.
The EU ban on imports of rolled steel products from Russian semi-finished products will come into effect on April 1, 2024, when suppliers, in particular rebar and wire rod, will face restrictions on all steel products rolled from Russian billet.
The year 2023 was characterized by complex challenges and changes for the steel industry. The sanctions, especially the closure of the EU market for Russian steel, have forced companies to redistribute export flows. However, following the results of the first half of 2023, the metallurgical sector stabilized. Increasing domestic demand, the depreciation of the ruble and the search for alternative markets allowed the industry to return to normal.