Russia’s stainless steel exports in 2020 stood at 46,030mt, up by 41.7pc as compared to 2019, according to data provided by Russia’s SpetsStal Association.
In 2020, Russia’s stainless steel to the Eurasian Economic Union (EAEU) countries increased by 28.6pc to 31,570mt, while stainless steel exports to other countries stood at 14,450mt, up by 82.3pc as compared to 2019. Of the total exports, exports to EAEU countries contributed 68.6pc, while other countries attributed 31.4pc.
Usually, the post-Soviet countries buy stainless steel from Russia and Ukraine. In recent years, Russia has become one of the largest producers and consumers of stainless steel in the entire region.
All Russian-made stainless steel products are not exported. Around 30pc-40pc of stainless steel imports from other countries are exported from Russia to EAEU countries, as per the association.