Supply of stainless steel to Russia increased at a record rate

The volume of stainless steel supplies to Russia in April 2023 reached a record high of 51.5 thousand tons (+29% mom). The main growth factor was the increase in supplies of cold-rolled flat products (+39.6%) and hot-rolled products (+54.1%). In general, the average monthly import of stainless steel to Russia this year exceeds the data for 2022, but remains below the results of 2021 by 4.2%.

The Russian market was impacted by Western sanctions, which also accelerated the process of directing purchases to Asian countries. 95.7% of Russian stainless steel purchases in April were made in Asia.