Recyclers in Russia exported 871,000mt of ferrous scrap in January-February 2021 versus 666,000mt in January-February 2020, according to Russian Customs data, however, in March-July 2021 the volume may drop due to the increase of export duty to €45/mt, but no lower than 5pc.
Turkey was the main outlet for Russian scrap suppliers who shipped 370,000mt during the period under review. Russian exports of the material to South Korea and Belarus totaled 261,000mt and 159,000mt, respectively.
In February 2021, Russian recyclers exported 98,000mt of ferrous scrap, down by 62pc compared to the same month a year ago.