MOSCOW: The latest trade data published by the Russian Federal Customs Service of Russia indicates that the country’s ferrous scrap exports during August this year declined when compared with the same month a year before. The exports also recorded sharp year-on-year decline. The cumulative exports during the initial eight-month period of the year were down marginally over the corresponding period in 2015. The exports during the month hit the lowest level since January this year. The country’s ferrous scrap exports during the month of August totaled 415,000 tons. The exports witnessed marginal decline of nearly 3% year-on-year. The Russian scrap exports during August last year had totaled 428,000 tons. When matched with July this year, the scrap exports during August ‘16 were up down by nearly 18.9%. Russia’s steel scrap exports during July this year had totaled 513,000 tons.
The largest export destination of Russian scrap during August this year was Turkey. The Russian exports to Turkey totaled 182,000 tons, accounting for nearly 44% of the total Russian exports. The exports to Turkey increased sharply by 16.7% year-on-year. The second largest export destination was Belarus. The Russian exports to Belarus declined sharply by 43.1% over the previous year to 79,000 tons.The Russian ferrous scrap exports totaled 3.665 million tons during the first eight-month period of the current year. The exports were down marginally by 1.8% when matched with the exports of 3.732 million tons during January to August in 2015. The country’s exports averaged at 458,000 tons per month. Going by the current rate, the country’s ferrous scrap exports are estimated to total around 5.500 million tons during the entire year 2016.
