Russian Federation: Flat-Rolled Steel Products Market 2024

Flat-Rolled Steel Products Market Size in the Russian Federation

The Russian flat-rolled steel products market fell to $X in 2023, shrinking by X% against the previous year. In general, consumption continues to indicate a pronounced decrease. Flat-rolled steel products consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Flat-Rolled Steel Products Production in the Russian Federation

In value terms, flat-rolled steel products production stood at $X in 2023 estimated in export price. In general, production continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2023, production stood at a somewhat lower figure.

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Flat-Rolled Steel Products Exports

Exports from the Russian Federation

In 2023, the amount of flat-rolled products of iron or non-alloy steel exported from Russia soared to X tons, rising by X% against 2022. Over the period under review, exports, however, saw a abrupt shrinkage. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, flat-rolled steel products exports surged to $X in 2023. Overall, exports, however, saw a drastic downturn. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Azerbaijan (X tons) was the main destination for flat-rolled steel products exports from Russia, with a X% share of total exports. Moreover, flat-rolled steel products exports to Azerbaijan exceeded the volume sent to the second major destination, Armenia (X tons), sevenfold. Belarus (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Azerbaijan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (X% per year) and Belarus (X% per year).

In value terms, Azerbaijan ($X) emerged as the key foreign market for flat-rolled products of iron or non-alloy steel exports from Russia, comprising X% of total exports. The second position in the ranking was held by Armenia ($X), with a X% share of total exports. It was followed by Belarus, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Azerbaijan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (X% per year) and Belarus (X% per year).

Export Prices by Country

In 2023, the average flat-rolled steel products export price amounted to $X per ton, waning by X% against the previous year. In general, the export price recorded a perceptible decrease. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Azerbaijan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Flat-Rolled Steel Products Imports

Imports into the Russian Federation

In 2023, after two years of decline, there was significant growth in overseas purchases of flat-rolled products of iron or non-alloy steel, when their volume increased by X% to X tons. In general, imports, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, flat-rolled steel products imports reduced to $X in 2023. Over the period under review, imports, however, saw a pronounced decrease. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, China (X tons) was the main flat-rolled steel products supplier to Russia, with a X% share of total imports. Moreover, flat-rolled steel products imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. The third position in this ranking was taken by Estonia (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Estonia (X% per year).

In value terms, China ($X) constituted the largest supplier of flat-rolled products of iron or non-alloy steel to Russia, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with an X% share of total imports. It was followed by Estonia, with a X% share.

From 2012 to 2023, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Estonia (X% per year).

Import Prices by Country

The average flat-rolled steel products import price stood at $X per ton in 2023, shrinking by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2022, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Estonia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Slovakia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform